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Indian rupee declining for the fifth consecutive day, ended considerably lower on Monday on worries of a possible Greece exit from the euro zone. Greece on Monday closed its banks and imposed capital controls to check the growing strains on its crippled financial system. The domestic currency was under pressure from the very beginning on heavy dollar demand from importers and the sentiments were further weighed down by sharp correction in equity markets. On the global front, the referendum called by the Greek Prime Minister Alexis Tsipras on July 5 and imposition of capital controls in the country hurt euro, while the Dollar rose against a basket of currencies amid safe haven demand.
Finally the rupee ended at 63.84, 20 paise weaker from its previous close of 63.64 on Friday. The currency touched a high and low of 63.94 and 63.74 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.91 and for Euro stood at 70.41 on June 29, 2015. While, the RBI’s reference rate for the Yen stood at 52.17, the reference rate for the Great Britain Pound (GBP) stood at 100.4008. 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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