The Indian rupee is trading stronger on Monday tailing the euro's gains despite negative local shares. Persistent selling of dollar by the software services exporter has further supported the rupee sentiment. The U.S. dollar slid to a fresh one-month low against a basket of major currencies in early Asian trade, finding no support after disappointing jobs data bolstered expectations that U.S. interest rates will stay low for longer. The US Labor Department reported that 54,000 jobs were created in the economy last month edging the unemployment rate up to 9.1% from 9% in April. Meanwhile, the euro hovered near a one-month high on Monday, bolstered by news that Greece may receive a vital slice of aid in July to avoid a default.
The partially convertible Rupee is currently trading at Rs 44.70/71, stronger by 11 paise from its previous close of 44.81 on Friday. It has touched a high and low of 44.77/78 and 44.69/70 respectively. The Reserve Bank of India's reference rate for the US dollar stood at 44.85 and for Euro it stood at 64.89 on June 3, 2011. While, the RBI's reference rate for the Yen stood at 55.59 and the reference rate for the Great Britain Pound (GBP) stood at 73.2916. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 03,2011 | 44.85 | 73.2916 |
| June 02,2011 | 44.94 | 73.4612 |
RBI-Reference Rate
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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