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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        December 27, 2013

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.62.0595 and the Reference Rate for Euro is Rs.85.2748 on December 27, 2013. The corresponding rates for the previous day (December 26, 2013) were Rs.61.9755 and Rs.84.7925 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

        December 26, 2013

        December 27, 2013

        1 GBP

        101.4911

        102.0320

        100 YEN

        59.15

        59.23

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

        Ajit Prasad

        Assistant General Manage

        Reference rate publication updates official exchange rates and cross currency conversions for the rupee based on published benchmarks. The Reserve Bank of India issues daily official reference rates for major currencies against the Rupee, publishing US dollar and Euro reference rates with previous day comparisons, and specifies that derived cross currency rates (e.g., pound sterling and Japanese yen) are calculated using the US dollar reference and middle cross currency quotes; the SDR Rupee rate is based on the 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 publication updates official exchange rates and cross currency conversions for the rupee based on published benchmarks.

                                The Reserve Bank of India issues daily official reference rates for major currencies against the Rupee, publishing US dollar and Euro reference rates with previous day comparisons, and specifies that derived cross currency rates (e.g., pound sterling and Japanese yen) are calculated using the US dollar reference and middle cross currency quotes; the SDR Rupee rate is based on the reference rate.


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