Indian rupee weakened against dollar in early deals on Wednesday due to fresh dollar demand from importers and banks. Further, as the dollar strengthened against major world currencies overseas too impacted the rupee sentiment. On the global front, the dollar edged up against the euro and yen on Wednesday, as China’s policy easing steps halted a slide in the region's equity markets and prevented a further worsening in risk sentiment for now. Chinese central bank cut its benchmark interest rates and the amount of cash banks must keep on hand in a bid to boost to market sentiment. The People's Bank of China announced that it was reducing lending and deposit interest rates by 0.25 percentage points each and its reserve requirement ratio by 0.50 percentage points with effect from today. This is the fifth rate cut announced by China since November 2014.
The partially convertible currency is currently trading at 66.22, weaker by 12 paise from its previous close of 66.10 on Tuesday. The currency touched a high and low of 66.38 and 66.1150 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.70 and for Euro stood at 77.10 on August 25, 2015. While, the RBI’s reference rate for the Yen stood at 56.01, the reference rate for the Great Britain Pound (GBP) stood at 105.1000. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 25, 2015 | 66.7090 | 105.1000 |
| August 24, 2015 | 66.5093 | 104.0072 |
(RBI-Reference Rate)
