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Indian rupee rose to a 10-week high against the U.S. currency on Monday, on suspected intervention from the central bank a day ahead of its monetary policy review. The consensus estimates are that the Indian central bank will keep both repo and reverse repo rates unchanged at 8.5% and 7.5% respectively however, there are some expectations of OMOs. Meanwhile local currency was also supported by dollar inflows that helped offset choppy local shares. However dollar demand from oil importers restricted the rupee gains. In the nearer term rupee will get triggers from Reserve Bank's action on interest rates, macro-economic growth indicators, upcoming assembly elections to state legislatures and the budget, apart from events unfolding in euro zone countries.
Finally the rupee ended at 50.10, stronger by 25 paise from its previous close of 50.35 on Friday. It has touched a high and a low of 50.3925 and 50.05 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 50.24 and for Euro it stood at 64.78 on January 23, 2012. While, the RBI's reference rate for the Yen stood at 65.24 and the reference rate for the Great Britain Pound (GBP) stood at 78.1286. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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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