Indian rupee weakened against dollar in early deals on Wednesday on increased demand for the US currency from importers. Investors are now eyeing the US existing home sales and consumer confidence data slated for release on Thursday. Traders are also awaiting more clues from European Central Bank (ECB) president Mario Draghi on the possible extension of the ECB’s stimulus program at its meeting on Thursday, which may influence Euro and hence the movement of the dollar index in the near future. Though, a higher opening in the domestic equity market and dollar's weakness overseas capped the losses. On the global front, the euro firmed against the dollar early on Wednesday after solid euro zone data tempered prospects of the European Central Bank delivering additional stimulus before year-end.
The partially convertible currency is currently trading at 65.15, weaker by 10 paise from its previous close of 65.05 on Tuesday. The currency touched a high and low of 65.1625 and 65.09 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.89 and for Euro stood at 73.52 on October 20, 2015. While, the RBI’s reference rate for the Yen stood at 54.33 the reference rate for the Great Britain Pound (GBP) stood at 100.3926. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 20, 2015 | 64.8908 | 100.3926 |
| October 19, 2015 | 64.8178 | 100.1176 |
(RBI-Reference Rate)
