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Indian rupee concluded stronger against dollar on Thursday on persistent dollar sales by exporters and state run banks in view of weakness of American currency against the basket of other major currencies. Nevertheless, weakness of local equities after disinflationary trend in April WPI data for sixth straight month called for some radical measures by policy makers to some extent also limited further uptrend of Indian currency. On the macro-front, the annual rate of inflation, based on monthly wholesale price index (WPI) ebbed to -2.65% in April as compared to -2.33% witnessed in March. The number was also way lower than the street expectation of a figure of -2.07% for the month under review. Nevertheless, dollar weakness lifted Indian currency. On the global front, dollar languished near a three month low against the basket of major currencies on Thursday after surprisingly soft retail sales prompted some investors to wonder if the Federal Reserve can afford to hike interest rates at all this year.
Finally, the rupee ended at 63.65, stronger by 36 paise from its previous close of 64.01 on Wednesday. The currency touched a high and low of 64.04 and 63.61 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.83 and for Euro stood at 72.87 on May 14, 2015. While, the RBI’s reference rate for the Yen stood at 53.68, the reference rate for the Great Britain Pound (GBP) stood at 100.6470. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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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