The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 61.9170 and the Reference Rate for Euro is Rs. 83.9247 on October 9, 2013. The corresponding rates for the previous day (October 8, 2013) were Rs. 61.6885 and Rs. 83.6875 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

 

Reference rate publication updates daily foreign exchange benchmarks for market affecting cross currency conversions and SDR rupee valuation. The Reserve Bank of India published the Reference Rate for the US dollar and the Euro on October 9, 2013, publishing current and prior day figures to serve as the official daily benchmarks for rupee valuation. Using the US dollar reference and cross currency middle rates, corresponding rupee rates for the British pound and Japanese yen were provided. The release states that the SDR Rupee rate will be based on the announced reference rate, linking SDR valuation to the RBI's daily benchmark.