UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21791

Name of Fund: Global Income & Currency Fund Inc. (GCF)

Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011

Name and address of agent for service: Mitchell M. Cox, Chief Executive Officer, Global Income & Currency Fund Inc., 4 World Financial Center, 6th Floor, New York, New York 10080.

Registrant's telephone number, including area code: (212) 449-4742

Date of fiscal year end: 12/31/2007

Date of reporting period: 07/01/2007 - 09/30/2007

Item 1 - Schedule of Investments

Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2007 (Unaudited) (in U.S. dollars) 

 Face
 Amount Short-Term Securities Value
-----------------------------------------------------------------------------------------------------------------------------------
Hungary Foreign Commercial HUF 2,216,000,000 Hungary Government Bond Series 07/G,
- 9.3% Paper ** - 9.3% 9.25% due 10/12/2007 (a) $ 12,593,602
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities in Hungary 12,593,602
-----------------------------------------------------------------------------------------------------------------------------------
Mexico Foreign Commercial MXN 144,000,000 Mexican Cetes Treasury Bills,
- 9.7% Paper ** - 9.7% 7.183% due 10/11/2007 (a) 13,126,400
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities in Mexico 13,126,400
-----------------------------------------------------------------------------------------------------------------------------------
South Africa Foreign Commercial ZAR 90,000,000 South Africa Government Bond Series R195,
- 9.7% Paper ** - 9.7% 10% due 2/28/2008 (a) 13,082,026
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities in South Africa 13,082,026
-----------------------------------------------------------------------------------------------------------------------------------
Turkey Foreign Commercial TRY 16,000,000 Turkey Government Bond, 17.208%
- 9.7% Paper ** - 9.7% due 11/07/2007 (a) 13,040,569
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities in Turkey 13,040,569
-----------------------------------------------------------------------------------------------------------------------------------
United States U.S. Government Agency USD 30,900,000 Fannie Mae, 5.278% due 10/10/2007 (a) 30,807,794
- 63.0% Obligations ** - 63.0% 12,125,000 Fannie Mae, 5.249% due 10/12/2007 (a) 12,108,219
 4,100,000 Fannie Mae, 5.272% due 11/09/2007 (a) 4,080,012
 24,675,000 Fannie Mae, 4.906% due 1/04/2008 (a) 24,387,857
 13,700,000 Federal Home Loan Bank, 4.966%
 due 12/17/2007 (a) 13,568,727
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities
 in the United States 84,952,609
-----------------------------------------------------------------------------------------------------------------------------------
 Total Short-Term Securities
 (Cost - $135,550,439) - 101.4% 136,795,206
-----------------------------------------------------------------------------------------------------------------------------------

 Number of
 Contracts Options Purchased
-----------------------------------------------------------------------------------------------------------------------------------
Call Options 14,000 Brazilian Real, expiring October 2007 at USD 2.00,
Purchased - 0.9% Broker Morgan Stanley Capital Services, Inc. 1,247,708
-----------------------------------------------------------------------------------------------------------------------------------
 Total Options Purchased (Premiums Paid - $323,400)
 - 0.9% 1,247,708
-----------------------------------------------------------------------------------------------------------------------------------
 Total Investments (Cost - $135,873,838*) - 102.3% 138,042,914

 Liabilities in Excess of Other Assets - (2.3%) (3,044,821)
 ------------
 Net Assets - 100.0% $134,998,093
 ============

* The cost and unrealized appreciation (depreciation) of investments as of September 30, 2007, as computed for federal income tax purposes, were as follows: 

Aggregate cost $ 136,210,781
 =============
Gross unrealized appreciation $ 2,134,313
Gross unrealized depreciation (302,180)
 -------------
Net unrealized appreciation $ 1,832,133
 =============

** Foreign Commercial Paper and certain U.S. Government & Agency Obligations are traded on a discount basis; the interest rates shown reflect the discount rates paid at the time of purchase. Other securities bear interest at the rates shown, payable at fixed dates or upon maturity. The interest rates shown are rates in effect at September 30, 2007.
(a) All or a portion of security held as collateral in connection with open forward foreign exchange contracts.

Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2007 (Unaudited) (in U.S. dollars)

o Forward foreign exchange contracts as of September 30, 2007 were as follows: 

--------------------------------------------------------------------------
Foreign Currency Settlement Unrealized Appreciation
Purchased Date (Depreciation)
--------------------------------------------------------------------------
AUD 24,000,000 October 2007 $ 715,541
BRL 13,800,500 October 2007 138,068
COP 28,134,500,000 October 2007 369,270
DKK 75,219,480 October 2007 561,160
EUR 5,000,000 December 2007 94,118
HUF 4,616,000,000 October 2007 472,651
INR 141,855,000 October 2007 58,816
ISK 853,293,000 October 2007 (220,092)
ISK 451,100,000 December 2007 191,542
ISK 479,900,000 September 2008 122,569
ISK 403,020,000 October 2008 22,757
MXN 141,600,000 November 2007 79,418
NZD 19,000,000 October 2007 580,650
SGD 21,030,000 October 2007 182,452
TWD 883,615,000 October 2007 50,119
ZAR 90,000,000 October 2007 326,152
--------------------------------------------------------------------------

Total Unrealized Appreciation on Forward Foreign Exchange Contracts - Net (USD Commitment - $205,999,307) $ 3,745,191 
Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2007 (Unaudited) (in U.S. dollars)

o Forward foreign exchange contracts as of September 30, 2007 were as
 follows:

 --------------------------------------------------------------------------
 Foreign Currency Settlement Unrealized Appreciation
 Sold Date (Depreciation)
 --------------------------------------------------------------------------
 AUD 8,000,000 October 2007 $ (244,887)
 BRL 13,800,500 October 2007 (525,520)
 CHF 16,509,920 October 2007 (207,875)
 CZK 277,480,000 October 2007 (382,515)
 DKK 149,919,280 October 2007 (694,117)
 EUR 5,000,000 October 2007 (151,426)
 EUR 5,000,000 December 2007 (162,082)
 EUR 5,000,000 September 2008 (102,750)
 HUF 4,616,000,000 October 2007 (1,273,978)
 INR 141,855,000 October 2007 11,660
 ISK 853,293,000 October 2007 (164,561)
 ISK 451,100,000 December 2007 (123,579)
 JPY 1,619,919,000 October 2007 (145,491)
 MXN 141,600,000 November 2007 (84,016)
 SGD 33,823,450 October 2007 (311,288)
 TWD 1,344,565,000 October 2007 (309,631)
 ZAR 90,000,000 October 2007 (481,361)
 --------------------------------------------------------------------------
 Total Unrealized Depreciation on Forward Foreign
 Exchange Contracts - Net (USD Commitment -
 $242,883,627) $ (5,353,417)
 ==============

o Currency Abbreviations:

 AUD Australian Dollar ISK Icelandic Crona
 BRL Brazilian Real JPY Japanese Yen
 CHF Swiss Franc MXN Mexican New Peso
 COP Colombian Peso NZD New Zealand Dollar
 CZK Czech Republic Koruna SGD Singapore Dollar
 DKK Danish Krone TRY Turkish Lira
 EUR Euro TWD New Taiwan Dollar
 HUF Hungary Forint USD U.S. Dollar
 INR Indian Rupee ZAR South African Rand


Item 2 - Controls and Procedures

2(a) - The registrant's principal executive and principal financial
 officers or persons performing similar functions have concluded that
 the registrant's disclosure controls and procedures (as defined in
 Rule 30a-3(c) under the Investment Company Act of 1940, as amended
 (the "1940 Act")) are effective as of a date within 90 days of the
 filing of this report based on the evaluation of these controls and
 procedures required by Rule 30a-3(b) under the 1940 Act and Rule
 13a-15(b) under the Securities and Exchange Act of 1934, as amended.

2(b) - There were no changes in the registrant's internal control over
 financial reporting (as defined in Rule 30a-3(d) under the 1940 Act)
 that occurred during the registrant's last fiscal quarter that have
 materially affected, or are reasonably likely to materially affect,
 the registrant's internal control over financial reporting.

Item 3 - Exhibits

Certifications - Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Global Income & Currency Fund Inc. 

By: /s/ Mitchell M. Cox
 ---------------------------------
 Mitchell M. Cox,
 Chief Executive Officer (principal executive officer) of
 Global Income & Currency Fund Inc.

Date: November 19, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. 

By: /s/ Mitchell M. Cox
 ---------------------------------
 Mitchell M. Cox,
 Chief Executive Officer (principal executive officer) of
 Global Income & Currency Fund Inc.

Date: November 19, 2007


By: /s/ James E. Hillman
 ---------------------------------
 James E. Hillman,
 Chief Financial Officer (principal financial officer) of
 Global Income & Currency Fund Inc.

Date: November 19, 2007

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