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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        June 27, 2013

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 60.5880 and the Reference Rate for Euro is Rs. 78.9412 on June 27, 2013. The corresponding rates for the previous day (June 26, 2013) were Rs. 59.8538 and Rs. 78.2265 respectively. Based on the Reference Rate for the US dollar and the middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below:

        Currency

        Date

        June 26, 2013

        June 27, 2013

        1 GBP

        92.3065

        92.9178

        100 YEN

        61.36

        61.79

         Note : The SDR-Rupee rate will be based on the reference rate.

        Ajit Prasad

        Assistant General Manager

        Press Release : 2012-2013/2191

         

        Reference Rate publication updates currency reference framework, affecting cross currency conversions and establishing the SDR Rupee basis. Publication of the Reference Rate for the US dollar and Euro establishes official benchmark exchange quotations; derived cross currency rates are calculated from the US dollar reference and middle cross currency quotes, and the SDR Rupee conversion is determined on the basis of the published Reference Rate.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Reference Rate publication updates currency reference framework, affecting cross currency conversions and establishing the SDR Rupee basis.

                                Publication of the Reference Rate for the US dollar and Euro establishes official benchmark exchange quotations; derived cross currency rates are calculated from the US dollar reference and middle cross currency quotes, and the SDR Rupee conversion is determined on the basis of the published Reference Rate.


                                Note: It is a system-generated summary and is for quick reference only.
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