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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        July 18, 2013

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 59.7120 and the Reference Rate for Euro is Rs. 78.2195 on July 18, 2013. The corresponding rates for the previous day (July 17, 2013) were Rs. 59.3623 and Rs. 77.9875 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 17,2013

        July 18, 2013

        1 GBP

        89.6905

        90.5891

        100 YEN

        59.77

        59.59

         

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

        Ajit Prasad
        Assistant General Manager

        Press Release : 2013-2014/126

         

        Reference rate publication clarifies exchange rate benchmarks for major currencies and derived cross currency conversions. The Reserve Bank of India published official Reference Rates for the US dollar and the Euro on July 18, 2013, compared with the previous day's rates, and provided pound sterling and yen exchange rates derived from the dollar reference and cross currency middle rates. The release states that the SDR Rupee rate will be based on the published reference rate and is issued as a public benchmark by the Reserve Bank.
                          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 clarifies exchange rate benchmarks for major currencies and derived cross currency conversions.

                                The Reserve Bank of India published official Reference Rates for the US dollar and the Euro on July 18, 2013, compared with the previous day's rates, and provided pound sterling and yen exchange rates derived from the dollar reference and cross currency middle rates. The release states that the SDR Rupee rate will be based on the published reference rate and is issued as a public benchmark by the Reserve Bank.


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