The Reserve Bank of India’s Reference Rate for the US dollar is Rs.59.8280 and the Reference Rate for Euro is Rs.79.3277 on July 30, 2013. The corresponding rates for the previous day (July 29, 2013) were Rs.59.2970 and Rs.78.7129 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:

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

Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/207

Reference rate for foreign exchange establishes rupee benchmarks and enables cross currency derived exchange rates for market use. The Reserve Bank published reference rates for the US dollar and the euro as official rupee conversion benchmarks and used the dollar reference rate with cross currency middle rates to derive rupee rates for other currencies; it also stated that the SDR Rupee rate will be based on the published reference rate.