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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        May 20, 2014

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.58.7455 and the Reference Rate for Euro is Rs.80.5261 on May 20, 2014. The corresponding rates for the previous day (May 19, 2014) were Rs.58.4260 and Rs.80.1170 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 19, 2014

        May 20, 2014

        1 GBP

        98.2842

        98.7747

        100 YEN

        57.67

        57.93

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

        Ajit Prasad

        Assistant General Manager

        Reference exchange rate announcement: RBI's published dollar and euro reference rates determine cross currency rates and SDR rupee linkage. The Reserve Bank of India published daily reference rates for the US dollar and the euro on May 20, 2014, and, using the dollar reference rate with middle cross currency quotes, provided derived pound sterling and Japanese yen exchange rates for May 19 and May 20, 2014; the release 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 exchange rate announcement: RBI's published dollar and euro reference rates determine cross currency rates and SDR rupee linkage.

                                The Reserve Bank of India published daily reference rates for the US dollar and the euro on May 20, 2014, and, using the dollar reference rate with middle cross currency quotes, provided derived pound sterling and Japanese yen exchange rates for May 19 and May 20, 2014; the release 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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