Indian rupee, despite ending negative, recuperated some lost ground on Friday after European leaders reached a deal on tighter euro zone budget rules amidst reports that China's central bank is planning to create a $300 billion investment fund. The sentiment was risk-off in the morning session as investors were disappointed that the ECB (European Central Bank) has not taken any strong step to help ease the euro-zone debt crisis, with dollar demand from oil importers and a slide in local equities also weighing on the local currency. On the global front, euro jumped on Friday on speculation that a new Chinese investment vehicle could provide much-needed funding to heavily indebted euro zone countries, thereby helping tackle the region's debt crisis.
Finally the rupee ended at 52.03, weaker by 27 paise from its previous close of 51.76. It touched a high and low of 52.34 and 51.98 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.22 and for Euro it stood at 69.60 on December 9, 2011. While, the RBI's reference rate for the Yen stood at 67.33 and the reference rate for the Great Britain Pound (GBP) stood at 81.5496. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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.
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.
MoneyWorks4Me ensures this through: