The Reserve Bank of India’s Reference Rate for the US dollar is Rs.60.7030 and the Reference Rate for Euro is Rs.83.8070 on March 24, 2014. The corresponding rates for the previous day (March 21, 2014) were Rs.61.0465 and Rs.84.1755 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
	March 21, 2014	March 24, 2014
1 GBP	100.8061	100.1053
100 YEN	59.64	59.26

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

Ajit Prasad

Assistant General Manager

Reference rate announcement sets rupee benchmarks for dollar and euro and informs derived pound and yen exchange rates. The Reserve Bank published its Reference Rate establishing benchmark rupee exchange rates for the US dollar and the euro, compared them with the previous day, and used the dollar Reference Rate plus middle cross currency quotes to derive rupee rates for the pound sterling and the Japanese yen; the press release states the SDR Rupee rate will be based on the published Reference Rate.