SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee treads water; month-end dollar demand weighs

26 Feb 2014 Evaluate

Indian rupee, after making a flat start, was treading water on Wednesday in absence of substantial positive catalyst which could provide some impetus to the local currency. Heavy dollar buying by some state-run banks, likely to meet month-end importer requirements ahead of a holiday, mainly weighed on the sentiment of Indian currency. Nevertheless, positive local equities restricted the fall of local unit. Meanwhile, forex market will be shut for trade on Thursday, i.e. February 27,2014, on account of Mahashivratri. On the global front, the yen was broadly firmer in early trade following a generally lackluster session that saw investors give the dollar a wide berth on the back of a decline in US treasury yields.

The partially convertible currency is currently trading at 61.91, little changed from its previous close of 61.95 on Tuesday. The currency touched a high and low of 62.02 and 61.90 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.97 and for Euro stood at 85.14 on February 25, 2014. While, the RBI’s reference rate for the Yen stood at 60.51, the reference rate for the Great Britain Pound (GBP) stood at 103.3086. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
February 25, 201461.97 103.3086
February 24, 201462.11103.3838

(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:

×