The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 62.6250 and the Reference Rate for Euro is Rs. 84.5550 on November 18, 2013. The corresponding rates for the previous day (November 14, 2013) were Rs. 63.0645 and Rs. 84.9475 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 guides rupee exchange quotations for other currencies and determines the SDR Rupee conversion methodology. The Reserve Bank published Reference Rates for the US dollar and Euro to serve as official rupee benchmarks. Derived rupee rates for other currencies are calculated from the US dollar Reference Rate and cross currency middle rates. The announcement states the SDR Rupee rate will be based on the published Reference Rate.