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        Case ID :

        RBI Reference Rate for US $

        March 14, 2016

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        The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 67.0230 on March 14, 2016.

        The corresponding rate for the previous day (March 11, 2016) was ₹ 67.0868.

        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

        March 11, 2016

        March 14, 2016

        1 EUR

        74.9427

        74.8044

        1 GBP

        95.7530

        96.3389

        100 YEN

        59.13

        58.90

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

         

        Ajit Prasad

        Assistant Adviser

        Press Release : 2015-2016/2153

        Reference rate for US Dollar updated; cross currency rates set EUR, GBP and JPY against rupee; SDR rupee linked. The Reserve Bank announced an updated reference rate for the US Dollar and published cross currency middle rates that determine the exchange rates of the Euro, Pound Sterling and Japanese Yen against the Rupee; the SDR Rupee rate will be based on the published US Dollar 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 for US Dollar updated; cross currency rates set EUR, GBP and JPY against rupee; SDR rupee linked.

                                The Reserve Bank announced an updated reference rate for the US Dollar and published cross currency middle rates that determine the exchange rates of the Euro, Pound Sterling and Japanese Yen against the Rupee; the SDR Rupee rate will be based on the published US Dollar reference rate.





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

                                Topics

                                ActsIncome Tax
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