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Indian rupee was holding steady against dollar on Wednesday as early euphoria over lower inflation print and positive local equities fizzled out. However, fresh selling of American currency by exporters in view of its weakness overseas prevented slide of the currency. The currency appreciated substantially during early deals as sentiments were bolstered in early trade after slower IIP and softer CPI data prompted rate cut hopes by RBI in its upcoming monetary policy on June 2, 2015. On the macro-front, easing to four month low, Retail inflation, as measured by the consumer price index (CPI), slowed to 4.87% year-on-year in April, lower compared to 5.17% in March, Slowing from nine months high level, the index for industrial output (IIP) for the month of March came in at 2.1%, lower than street expectation of a number of around 2.80% and also lower compared to 5% in February. On the global front, dollar slipped against a basket of major currencies on Wednesday, with near term focus on whether US retail sales data will point to pick up in US growth after a weak first quarter.
The partially convertible currency is currently trading at 64.15 almost flat against previous close of 64.16 on Tuesday. The currency touched a high and low of 64.21 and 64.05 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.20 and for Euro stood at 71.91 on May 12, 2015. While, the RBI’s reference rate for the Yen stood at 53.43, the reference rate for the Great Britain Pound (GBP) stood at 100.0331. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 12, 2015 | 64.20 | 100.0331 |
| May 11, 2015 | 63.84 | 98.4687 |
(RBI-Reference Rate)
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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