The Reserve Bank of India’s Reference Rate for the US dollar is Rs.58.5740 and the Reference Rate for Euro is Rs.80.0500 on May 22, 2014. The corresponding rates for the previous day (May 21, 2014) were Rs.58.7725 and Rs.80.5684 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 21, 2014	May 22, 2014
1 GBP	99.0199	98.8788
100 YEN	58.09	57.62

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

Ajit Prasad
Assistant General Manager

Reference Rate published for major currencies and underpins rupee conversions, cross-currency quotes, and SDR-Rupee computation. The Reserve Bank of India's Reference Rate announcement publishes the daily benchmark exchange rates for the US dollar and Euro and derives bilateral rupee rates for other currencies (GBP, JPY) using middle cross-currency quotations; it also states that the SDR-Rupee rate will be based on this reference rate, establishing the reference rate as the operational basis for market conversions and official valuation.