Indian rupee ended lower on Monday due to fresh demand from importers for the dollar and gains in the American greenback against basket of major currencies overseas and even due to the Euro group meeting. Further, Index of Industrial production (IIP) numbers for May were below expectations, too pressurizing rupee. On the global front, Euro zone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the euro zone after all-night talks at an emergency summit. Though, euro was unable to hold its modest gains, as investors started looking past the Greek crisis.
Finally, the rupee ended at 63.51, 13 paise weaker from its previous close of 63.38 on Friday. The currency touched a high and low of 63.52 and 63.40 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.46 and for Euro stood at 70.69 on July 13, 2015. While, the RBI’s reference rate for the Yen stood at 51.77, the reference rate for the Great Britain Pound (GBP) stood at 98.47. 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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