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        FEMA & RBI

        RBI Reference Rate for US $

        March 24, 2017

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        The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.4581 on March 24, 2017.

        The corresponding rate for the previous day (March 23, 2017) was ₹ 65.4220.

        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 23, 2017

        March 24, 2017

        1 EUR

        70.6688

        70.4656

        1 GBP

        81.8495

        81.6721

        100 YEN

        58.81

        58.74

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

        Ajit Prasad

        Assistant Adviser

        Reference Rate for US Dollar used to derive cross currency exchange rates and to determine the SDR Rupee rate. Reserve Bank of India published the Reference Rate for the US Dollar for March 24, 2017, and the preceding day, and used that reference rate with middle cross currency rates to derive exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR Rupee rate is to be based on the stated 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 used to derive cross currency exchange rates and to determine the SDR Rupee rate.

                                Reserve Bank of India published the Reference Rate for the US Dollar for March 24, 2017, and the preceding day, and used that reference rate with middle cross currency rates to derive exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR Rupee rate is to be based on the stated reference rate.


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