Indian rupee was trading marginally weaker against dollar after a good start on fresh demand for American currency from importers. Earlier the rupee opened higher and was trading higher against the dollar on fresh selling of the US currency by exporters amid sustained foreign fund inflows. Higher opening in the domestic equity market and American currency’s weakness against others overseas after China's weak factory output numbers and sub-7 percent GDP growth, which is lowest since 2009, stoked global economic concerns, raising bets that a rate hike could be off the US Fed's agenda at least in its forthcoming policy review on October 27-28, limited rupee losses.
The partially convertible currency is currently trading at 64.82, little changed from its previous close of 64.81 on Friday. The currency touched a high and low of 64.8450 and 64.73 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.96 and for Euro stood at 73.99 on October 16, 2015. While, the RBI’s reference rate for the Yen stood at 54.54 the reference rate for the Great Britain Pound (GBP) stood at 100.5536. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 16, 2015 | 64.9697 | 100.5536 |
| October 15, 2015 | 64.8240 | 100.4124 |
(RBI-Reference Rate)
