The Reserve Bank of India’s Reference Rate for the US dollar is Rs.61.2760 and the Reference Rate for Euro is Rs.83.8010 on October 18, 2013. The corresponding rates for the previous day (October 17, 2013) were Rs.61.5810 and Rs.83.4935 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 announcement governs exchange rate dissemination and cross-currency calculations for major currencies against the rupee. The Reserve Bank announced benchmark Reference Rates for the US dollar and the Euro, used to derive cross-currency rupee exchange rates for the pound sterling and the Japanese yen by applying the dollar reference and middle cross-currency quotes; it further states the SDR Rupee rate will be based on the reference rate.