SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee recoup early losses; continues weak trade on Friday

25 Oct 2013 Evaluate

Indian rupee, although has recovered from early lows, continues to trade weak on Friday, with the focus gradually shifting to the central bank's rate meeting next week.Strong month end dollar demand amidst subdued local equity trend is mainly spooking sentiment. Further, Finance Minister’s stipulation of being prepared for US tapering to regulators, also is adding to the underlying weakness of Indian currency. Finance Minister P Chidambaram has asked financial sector regulators, including RBI and SEBI, to take preventive steps to neutralise the impact of US Federal Reserve's monetary stimulus tapering that is likely early next year. On the global front, dollar has hit a fresh two-year low versus the euro on Friday, pressured by strengthened expectations the U.S. Federal Reserve will maintain its asset purchases through early next year.

The partially convertible currency is currently trading at 61.61, 14 paise lower from its previous close of 61.47 on Thursday. The currency has touched a high and low of 61.78 and 61.43 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.41 and for Euro it stood at 84.81 on October 24, 2013. While, the RBI’s reference rate for the Yen stood at 62.99, the reference rate for the Great Britain Pound (GBP) stood at 99.5280. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

October 24, 2013

 61.4199.5280

October 23, 2013

61.53 99.7466

(RBI Reference Rate)

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×