SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Indian rupee consolidates, makes a soft start

27 Mar 2014 Evaluate

Indian rupee is consolidating on Thursday morning after surging to its more than eight months high in last session. There was some report of speculated RBI intervention, buying dollar through the state run banks, preventing the currency from gaining much further. The RBI has long been expected to start buying dollars when the rupee strengthens to add to foreign exchange reserves. Dollar buying by oil marketing companies to meet their month end demand, too was weighing down the rupee. Though, the domestic currency is in a bit somber mood but there have been consistent dollar inflows into the local equities market, supporting the currency. In the global markets, the yen rose to a one-week high versus the dollar amid concern Western nations will boost pressure on Russia, while the pound strengthened the most in six weeks against the euro.

The partially convertible currency is currently trading at 60.22, weaker by 6 paise from its previous close of 60.16 on Wednesday. The currency touched a high and low of 60.26 and 60.17 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.17 and for Euro stood at 83.09 on March 26, 2014. While, the RBI’s reference rate for the Yen stood at 58.81, the reference rate for the Great Britain Pound (GBP) stood at 99.3929. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
March 26, 201460.1799.3929
March 25, 201460.4999.7719
(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:

×