The Reserve Bank of India’s Reference Rate for the US dollar is Rs.62.3555 and the Reference Rate for Euro is Rs.84.5365 on October 1, 2013. The corresponding rates for the previous day (September 30, 2013) were Rs.62.7770 and Rs.84.6745 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 published by the central bank sets the benchmark for exchange rates and SDR rupee conversion. The Reserve Bank of India published its daily Reference Rate for the US dollar and the euro, compared those rates with the previous day, and used the dollar rate and middle cross currency quotes to derive rupee rates for the pound sterling and Japanese yen; it also stated that the SDR Rupee rate will be based on the published reference rate.