Indian rupee after making a weak start recouped substantial losses and was trading flat against previous close on Monday. The currency got off to weak start tracking weakness of other Asian currencies, while negative local equities also weighed on the sentiment. Besides, prevailing caution ahead of RBI’s bi-monthly policy on 3 February, where India’s central bank is expected to keep interest rates unchanged after a cut in January also restricted upmove of Indian currency. On the global front, yen firmed broadly early on Monday as worries about health of the Chinese economy dealt a fresh blow to sentiment already unsettled by sell-off on Wall Street.
The partially convertible currency is currently trading at 61.88, almost unchanged from Friday’s close of 61.87. The currency touched a high and low of 62.01 and 61.78 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.75 and for Euro stood at 70.02 on January 30, 2015. While, the RBI’s reference rate for the Yen stood at 52.40, the reference rate for the Great Britain Pound (GBP) stood at 93.1303. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 30, 2015 | 61.75 | 93.1303 |
| January 29, 2015 | 61.49 | 93.1230 |
(RBI-Reference Rate)
