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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

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• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        November 27, 2013

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.62.3625 and the Reference Rate for Euro is Rs.84.6755 on November 27, 2013. The corresponding rates for the previous day (November 26, 2013) were Rs.62.4470 and Rs.84.5040 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:

         Currency

        Date

        November 26, 2013

        November 27, 2013

        1 GBP

        100.8644

        101.1083

        100 YEN

        61.51

        61.43

        Note : The SDR-Rupee rate will be based on the reference rate.

        Ajit Prasad
        Assistant General Manager

        Reference rate update sets rupee benchmarks and governs GBP, JPY and SDR exchange calculations daily. Reference Rate announcement establishes daily benchmark exchange rates for the rupee based on published Reserve Bank reference values for the US dollar and the euro; cross-currency middle rates derived from those values are used to compute rupee rates for the British pound and Japanese yen, and the SDR Rupee rate is explicitly stated to be based on the published reference rate.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Reference rate update sets rupee benchmarks and governs GBP, JPY and SDR exchange calculations daily.

                                Reference Rate announcement establishes daily benchmark exchange rates for the rupee based on published Reserve Bank reference values for the US dollar and the euro; cross-currency middle rates derived from those values are used to compute rupee rates for the British pound and Japanese yen, and the SDR Rupee rate is explicitly stated to be based on the published reference rate.


                                Note: It is a system-generated summary and is for quick reference only.
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