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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        April 2, 2014

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.59.6463 and the Reference Rate for Euro is Rs.82.3920 on April 02, 2014. The corresponding rates for the previous day (March 28, 2014) were Rs.60.0998 and Rs.82.5765 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 28, 2014

        April 02, 2014

        1 GBP

        99.8498

        99.2097

        100 YEN

        58.83

        57.48

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

        Ajit Prasad
        Assistant General Manager

         

        Reference Rate publication for major currencies; guides rupee cross currency calculations and SDR rupee conversion basis. The Reserve Bank of India published official Reference Rate quotations for the US dollar and the euro, compared them with the prior reference day, and, using the US dollar reference and cross currency middle rates, provided derived rupee exchange rates for the pound sterling and the Japanese yen; it also stated that the SDR Rupee rate will 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 publication for major currencies; guides rupee cross currency calculations and SDR rupee conversion basis.

                                The Reserve Bank of India published official Reference Rate quotations for the US dollar and the euro, compared them with the prior reference day, and, using the US dollar reference and cross currency middle rates, provided derived rupee exchange rates for the pound sterling and the Japanese yen; it also stated that the SDR Rupee rate will be based on the published reference rate.


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