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Indian Rupee recovering from previous session setback strengthened on Thursday. Though the domestic currency erased most early gains on Thursday after oil import payments picked up, but positive local shares, firmer euro and exporter sales kept the sentiment afloat for the Indian currency. Crude oil is India's largest import item and domestic oil refiners are the biggest dollar buyers in the local currency market. Meanwhile, the euro advanced to a one-week high against dollar as strong commodities prices and a report that China is interested in buying 'bailout bonds' for Portugal spurred active stop-loss buying of the single European currency.
The partially convertible Rupee is currently trading at 45.29, stronger by 3 paise from its previous close of 45.32 on Wednesday. It has touched a high and low of 45.33 and 45.22 respectively. The Reserve Bank of India's reference rate for the US dollar stood at 45.38 and for Euro it stood at 63.70 on May 25, 2011. While, the RBI's reference rate for the Yen stood at 55.43 and the reference rate for the Great Britain Pound (GBP) stood at 73.3137. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 25,2011 | 45.38 | 73.3137 |
| May 24,2011 | 45.25 | 72.8231 |
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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