Indian rupee appreciating for third straight session was trading stronger on Friday on continued dollar selling by exporters and state run banks in view of its weakness overseas against the basket of other major currencies. Meanwhile, the gains of local equities after UN ESCAP report forecasted Indian growth at 8.1% in the current year also bolstered sentiment of Indian currency. On the global front, dollar struggled near three months low against the euro on Friday, with mixed US data doing little to ease investor concerns that the pace of recovery in the world’s largest economy may be too slow to allow interest rates hikes soon.
The partially convertible currency is currently trading at 63.57, stronger by 8 paise from its previous close of 63.65 on Thursday. The currency touched a high and low of 63.59 and 63.46 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.
| Date | 1US$ | 1GBP |
| May 14, 2015 | 63.83 | 100.6470 |
| May 13, 2015 | 64.18 | 100.5785 |
(RBI-Reference Rate)
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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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