Indian rupee ended lower against dollar on Monday weighed down by the strength of the American currency in the overseas market. Traders were worried after India’s industrial production growth measured in terms of the Index of Industrial Production (IIP) slipped to five-month low of 1.1 per cent in March 2023 from 5.8 per cent in February 2023. The previous lowest level of growth was recorded in October 2022 at a contraction of 4.1 per cent. The factory output growth stood at 2.2 per cent in March 2022. Traders ignored report that India’s inflation based on wholesale price index (WPI) turned negative for the first time since July 2020 at (-) 0.92% for the month of April 2023 as against 1.34% in March 2023. On the global front, U.S. dollar fell slightly from a five-week high on Monday. Meanwhile, the Turkish lira sank to a near record low as weekend elections looked headed for a runoff, while the Thai baht rallied after a more decisive election result.
Finally, the rupee ended at 82.33 (Provisional), weaker by 15 paise from its previous close of 82.18 on Friday. The currency touched a high and low of 82.37 and 82.18 respectively.
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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