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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        July 17, 2013

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 59.3623 and the Reference Rate for Euro is Rs. 77.9875 on July 17, 2013. The corresponding rates for the previous day (July 16, 2013) were Rs. 59.3925 and Rs. 77.7250 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

        July 16, 2013

        July 17, 2013

        1 GBP

        89.8965

        89.6905

        100 YEN

        59.54

        59.77

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

        Ajit Prasad
        Assistant General Manager

        Press Release : 2013-2014/116

        Reference rate publication: RBI issued updated foreign exchange reference rates affecting USD, Euro and derived GBP and JPY quotes. Reserve Bank of India published updated foreign exchange reference rates for the US dollar and the Euro, compared with the preceding day, provided derived cross currency quotations for the British pound and the Japanese yen based on the US dollar reference and middle cross currency rates, and confirmed that the SDR Rupee conversion will be based on the announced 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: RBI issued updated foreign exchange reference rates affecting USD, Euro and derived GBP and JPY quotes.

                                Reserve Bank of India published updated foreign exchange reference rates for the US dollar and the Euro, compared with the preceding day, provided derived cross currency quotations for the British pound and the Japanese yen based on the US dollar reference and middle cross currency rates, and confirmed that the SDR Rupee conversion will be based on the announced reference rate.


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