Indian rupee, after resuming trade post a day’s break on a weak note, although has recouped most of its early losses, the underlying tone continues to remain downbeat tailing weaker Asian currencies. Further, prevailing caution ahead of December's wholesale price index-based inflation data, which is likely to edge lower to 7.00 percent in December from a 14-month high of 7.52 percent in November, also is restricting any further upside of the currency, however positive local equities are keeping the losses in check. In the global markets, the yen and Australian dollar nursed heavy losses early on Wednesday, having suffered a swift turnaround in fortunes after upbeat retail sales data halted a slide in U.S. yields to help the U.S. dollar recover from a one-month low touched on Monday.
The partially convertible currency is currently trading at 61.55, almost unchanged from its previous close of 61.53 on Monday. The currency touched a high and low of 61.71 and 61.53 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.52 and for Euro stood at 84.11 on January 13, 2014. While, the RBI’s reference rate for the Yen stood at 59.49, the reference rate for the Great Britain Pound (GBP) stood at 101.4772. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 13, 2014 | 61.52 | 101.4772 |
| January 10, 2014 | 61.93 | 102.0643 |
