Indian rupee wiped off its early losses and ended a tad strong against dollar on Thursday, owing to sustained selling of the US currency by exporters and banks. Local currency got support with report that a sharp fall in oil prices eased investors’ concerns surrounding inflation and rising twin deficits. Besides, strong gains in the domestic equity markets also supported the rupee. However, dollar’s strength against major global currencies overseas restricted further up move. On the global front, dollar marched higher on Thursday, sending a key index of the US currency to a two-week high. The greenback continued to find support in optimism over a budget deal in Washington, D.C., and hopes for higher US interest rates.
Finally, the rupee ended at 64.25, 3 paise stronger from its previous close of 64.28 on Wednesday. The currency touched a high and low of 64.38 and 64.15 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.16 and for Euro stood at 78.74 on February 08, 2018. While the RBI’s reference rate for the Yen stood at 58.50, the reference rate for the Great Britain Pound (GBP) stood at 89.19. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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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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Name of the IA registered
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The Alchemists Ark Pvt. Ltd. |
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Trade/Brand
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Brand Logo:
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SEBI Registration Number:
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INA000013323 Validity – May 16, 2019 – Perpetual |
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Non-Individual |
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1187 |
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