The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 61.8110 and the Reference Rate for Euro is Rs. 83.4200 on September 27, 2013. The corresponding rates for the previous day (September 26, 2013) were Rs. 62.2260 and Rs. 84.1073 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.

Sucheta Vazkar

Manager

Reference rate publication sets daily currency benchmarks and derivation rules for cross currency exchange rates. Announcement of daily Reference Rate determinations: the Reserve Bank publishes Reference Rates for the US dollar and the euro for the business date and records the prior day's rates for comparison. It states that pound sterling and Japanese yen exchange rates against the rupee are derived from the US dollar Reference Rate and cross currency middle rates. The release confirms the SDR Rupee conversion will follow the published Reference Rate framework and functions as the official daily benchmark for market transparency and reporting.