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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        May 19, 2014

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 58.426 and the Reference Rate for Euro is Rs. 80.117 on May 19, 2014. The corresponding rates for the previous day (May 16, 2014) were Rs. 58.861 and Rs. 80.7166 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 16, 2014

        May 19, 2014

        1 GBP

        98.8217

        98.2842

        100 YEN

        57.97

        57.67

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

        Ajit Prasad

        Assistant General Manager

        Reference rate publication updates rupee exchange rates for major currencies and sets the basis for the SDR-rupee conversion. Reserve Bank of India published official Reference Rates for the US dollar and the Euro and, using the US dollar reference and cross currency middle rates, derived rupee rates for the pound sterling and the Japanese yen; the statement specifies 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 updates rupee exchange rates for major currencies and sets the basis for the SDR-rupee conversion.

                                Reserve Bank of India published official Reference Rates for the US dollar and the Euro and, using the US dollar reference and cross currency middle rates, derived rupee rates for the pound sterling and the Japanese yen; the statement specifies that the SDR-rupee rate will be based on the published reference rate.


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