Indian rupee ended marginally higher against the U.S. dollar on Tuesday amid softening crude oil prices in the overseas market. Traders took some support with Union Minister of Commerce & Industry, Piyush Goyal’s statement that the present government’s ambition is to make India a fully developed nation by 2047 and all efforts are being made in this direction. Goyal said that the government’s ambition is to increase the current $3.7 trillion economy to be a $30-35 trillion economy by 2047 and to ensure food and energy security of the nation. However, a strong American currency and withdrawal of foreign funds kept the local unit under pressure. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 754.59 crore, according to exchange data. On the global front, the dollar rose broadly on Tuesday and firmed above 150 yen on mounting expectations of higher-for-longer U.S. rates, contrasting with a recession in Japan and market doubts about a near-term exit from the country's ultra-easy policy.
Finally, the rupee ended at 82.96 (Provisional), stronger by 5 paise from its previous close of 83.01 on Friday. The currency touched a high and low of 83.02 and 82.91 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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