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        FEMA & RBI

        RBI Reference Rate for US $

        January 18, 2016

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        The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 67.5880 on January 18, 2016.

        The corresponding rate for the previous day (January 15, 2016) was ₹ 67.4325.

        Based on the reference rate for the US Dollar and the middle rates of the cross-currency quotes, the exchange rate of EUR, GBP and JPY against the Rupee are given below:

        Currency

        Date

        January 15, 2016

        January 18, 2016

        1 EUR

        73.3868

        73.6101

        1 GBP

        97.1095

        96.4819

        100 YEN

        57.25

        57.68

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

        Ajit Prasad

        Assistant Adviser

        Reference rate update: revised US dollar benchmark underpins derived exchange rates and SDR rupee valuation. RBI announced an updated reference rate for the US Dollar, establishing the official rupee conversion benchmark. Using the US Dollar reference and the middle rates of cross-currency quotes, the Reserve Bank published derived exchange rates for the Euro, Pound Sterling and Japanese Yen. The announcement specifies that the SDR Rupee rate will be calculated on the basis of the published reference rate, and records current and preceding reference day figures to support transparency in benchmark publication.
                          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 update: revised US dollar benchmark underpins derived exchange rates and SDR rupee valuation.

                                RBI announced an updated reference rate for the US Dollar, establishing the official rupee conversion benchmark. Using the US Dollar reference and the middle rates of cross-currency quotes, the Reserve Bank published derived exchange rates for the Euro, Pound Sterling and Japanese Yen. The announcement specifies that the SDR Rupee rate will be calculated on the basis of the published reference rate, and records current and preceding reference day figures to support transparency in benchmark publication.


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