Indian rupee cooled off from its high reached in last session on Friday. The domestic currency looked in somber mood since opening, tailing weakness in the regional peers after the dollar strengthened overseas, besides there was increased demand for the American greenback from the importers that weighed on the sentiments. On the same time a global sell-off in equity markets on growth concern was putting additional pressure on the currency. However, any major decline was averted on optimism a retreat in oil prices will help narrow the nation’s trade deficit. On the global front, the yen headed for its first weekly gain versus the dollar since August, while the euro declined for the first time in four days as European Central Bank President Mario Draghi called for structural reforms in the region.
The partially convertible currency is currently trading at 61.14, weaker by 9 paise from its previous close of 61.05 on Thursday. The currency touched a high and low of 61.20 and 61.11 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.03 and for Euro stood at 77.74 on October 08, 2014. While, the RBI’s reference rate for the Yen stood at 56.57, the reference rate for the Great Britain Pound (GBP) stood at 98.6355. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 09, 2014 | 61.03 | 98.6355 |
| October 08, 2014 | 61.46 | 98.7678 |
