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Indian rupee ended lower against dollar on Wednesday, on account of sustained dollar demand from importers and banks. Sentiments were fragile as rating agency Crisil expects stressed assets of non-banking financial companies (NBFCs) to touch Rs 1.5-1.8 lakh crore or 6-7.5% of the assets under management (AUM) by the end of the current financial year. Adding pessimism, loan growth is slowing across financial markets. Growth in non-food credit slipped back below the 6% mark to 5.92% year-on-year (y-o-y) during the fortnight ended January 29 from 6.35% y-o-y in the previous fortnight. As on January 29, outstanding non-food credit stood at Rs 106.17 lakh crore, data from Reserve Bank of India (RBI) showed. Besides, lackluster trade in domestic equity markets also put pressure in rupee. On the global front; dollar rose against low-yielding currencies on Wednesday, reaching a five-month high against the yen, as U.S. bond yields jumped on the prospects of further economic recovery and a possible acceleration in inflation.
Finally, the rupee ended at 72.74, 5 paise weaker from its previous close of 72.69 on Tuesday. The currency touched a high and low of 72.92 and 72.72 respectively. The reference rate for the dollar stood at 72.72, and for Euro stood 88.25 on February 16, 2021. While the reference rate for the Yen stood at 68.91, the reference rate for the Great Britain Pound (GBP) stood at 101.32.
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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