Indian rupee, after a bull run in last session are consolidating on Wednesday and were trading flat after a mildly soft start, tailing losses in other regional currencies. There has been weakness in currencies across the globe after the International Monetary Fund (IMF) cut its outlook for global growth in 2015.According to it the world economy will grow 3.8% next year, compared with a July forecast of 4%. The cautiousness in the local equity markets too was weighing down the sentiments. On the global front, the dollar fell to a three week-low against the yen on Tuesday. However, the dollar index, which measures the US currency’s strength against major currencies, was trading up.
The partially convertible currency is currently trading at 61.42, flat at its previous close on Wednesday. The currency touched a high and low of 61.44 and 61.41 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.35 and for Euro stood at 77.46 on October 07, 2014. While, the RBI’s reference rate for the Yen stood at 56.50, the reference rate for the Great Britain Pound (GBP) stood at 98.7090. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 07, 2014 | 61.35 | 98.7090 |
| October 01, 2014 | 61.75 | 100.0677 |
