The Reserve Bank of India’s Reference Rate for the US dollar is Rs.61.9580 and the Reference Rate for Euro is Rs.85.3345 on December 17, 2013. The corresponding rates for the previous day (December 16, 2013) were Rs.62.1024 and Rs.85.4284 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 sets official currency benchmarks and governs SDR Rupee conversion for market reference and transparency. The Reserve Bank issues Reference Rates for major currencies against the Rupee, providing official benchmarks for the US dollar and Euro and deriving other currency rates through the US dollar Reference Rate combined with middle cross currency quotes; the release notes that the SDR Rupee rate will be based on the stated Reference Rate and supplies prior day comparisons for market transparency.