The practice of asphalt pavement recycling has grown rapidly over the decade, one of which is the cold in-place recycling with the foamed asphalt (CIR-foam) or the emulsified asphalt (CIR-emulsion). Particularly, in Iowa, the CIR has been widely used in rehabilitating the rural highways because it significantly increases the service life of the existing pavement. The CIR layer is typically overlaid by the hot mix asphalt (HMA) to protect it from water ingress and traffic load and obtain the required pavement structure and texture. Most public agencies have different curing requirements based on the number of curing days or the maximum moisture contents for the CIR before placing the overlay. The main objective of this study is to develop a moisture loss index that the public agency can use to monitor the moisture content of CIR layers in preparation for a timely placement of the wearing surface. First, the moisture contents were measured in the field using a portable time domain reflectometry (TDR) device. Second, the weather information in terms of rain fall, air temperature, humidity and wind speed was collected from the same location. Finally, a moisture loss index was developed as a function of initial moisture content, air temperature, humidity and wind speed. The developed moisture loss index based on the field measurements would help the public agency to determine an optimum timing of an overlay placement without continually measuring moisture conditions in the field.