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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        May 15, 2014

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.59.4745 and the Reference Rate for Euro is Rs.81.5526 on May 15, 2014. The corresponding rates for the previous day (May 13, 2014) were Rs.59.8773 and Rs.82.4035 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

        May 13, 2014

        May 15, 2014

        1 GBP

        100.9831

        99.7031

        100 YEN

        58.55

        58.34

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

        Nayana Dhuru

        Assistant Manager

        Reference exchange rates updated, impacting cross currency middle rates and derived rupee conversions for major currencies and SDR valuation. The Reserve Bank published reference exchange rates for the US dollar and the euro on May 15, 2014, compared them with the previous reference rates, provided derived rupee quotations for GBP and JPY using cross currency middle rates, and stated that the SDR Rupee rate will be 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 exchange rates updated, impacting cross currency middle rates and derived rupee conversions for major currencies and SDR valuation.

                                The Reserve Bank published reference exchange rates for the US dollar and the euro on May 15, 2014, compared them with the previous reference rates, provided derived rupee quotations for GBP and JPY using cross currency middle rates, and stated that the SDR Rupee rate will be based on the reference rate.


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