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<h1>Reference rate determination guides currency conversions and cross currency middle rates, affecting rupee quotations for major currencies.</h1> The Reserve Bank of India publishes a daily reference rate for the US dollar that serves as the benchmark for calculating rupee exchange quotations; using that rate and cross currency middle rates it derives rupee exchange rates for EUR, GBP and JPY. The notice further states that the SDR Rupee rate will be based on the RBI reference rate, aligning SDR conversions with the same benchmark.
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