Gaining for the second day, Indian rupee ended considerably stronger against the US dollar on Wednesday, on continued selling of the US currency by banks and exporters. Traders took some solace with India’s Retail inflation, measured by the consumer price index (CPI), easing to 5.07% in January 2018, after rising to 5.21% in the month of December. Some encouragement also came with a survey by economic think tank NCAER enlightened that the Business Confidence Index rose 9.1% in December quarter 2017 over the previous three months as overall sentiment remained buoyant. Though, selling in last hour of trade in the domestic equity markets limited further appreciation of Indian currency. On the global front, US dollar continued to hover at one-week lows against other major currencies on Wednesday, as sentiment on the greenback remained vulnerable ahead of the release of highly-anticipated US inflation data due later in the day.
Finally, the rupee ended at 64.08, 23 paise stronger from its previous close of 64.31 on Monday. The currency touched a high and low of 64.18 and 64.04 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.12 and for Euro stood at 79.38 on February 14, 2018. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 89.17. 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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The Alchemists Ark Pvt. Ltd. |
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Non-Individual |
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1187 |
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