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Indian rupee pared its initial losses to close almost flat against the US dollar on Tuesday, amid a muted trend in the domestic equity market. Traders paid no heed towards the commerce ministry’s data showing that growing for the second consecutive month, the country's exports rose 6.16 per cent year-on-year to $27.45 billion in January 2021 following healthy growth in pharma and engineering sectors. Trade deficit during the month narrowed to $14.54 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020. Imports in January 2021 rose 2 per cent to $42 billion. Investors also overlooked a private report stated that economic activity is on the verge of normality after getting severely hit by COVID-19 and Indian GDP will grow at 13.5 per cent in FY22. On the global front, the US dollar was mired at a three-week low on Tuesday as growing optimism about the outlook of the global economy in the coming months sent investors scurrying to purchase riskier currencies including the euro, crown and the British pound.
Finally, the rupee ended at 72.69, 1 paise weaker from its previous close of 72.68 on Monday. The currency touched a high and low of 72.85 and 72.63 respectively. The reference rate for the dollar stood at 72.59, and for Euro stood 88.12 on February 15, 2021. While the reference rate for the Yen stood at 69.07, the reference rate for the Great Britain Pound (GBP) stood at 100.88.
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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