Date : 14 Dec 2012

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.54.3880 and the Reference Rate for Euro is Rs.71.2920 on December 14, 2012. The corresponding rates for the previous day (December 13, 2012) were Rs.54.2320 and Rs.70.9440 respectively. Based on the Reference Rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below:

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

Ajit Prasad

Assistant General Manager

Press Release: 2012-2013/997

 

Reference Rate publication updates foreign exchange benchmarks and cross currency derived rates, informing SDR rupee conversion basis. The Reserve Bank of India published Reference Rates for the US dollar and the Euro and compared them with the previous day; using those reference rates and middle cross currency quotes it derived exchange rates for the pound sterling and the yen. The release specifies that the SDR Rupee rate will be based on the published reference rate and serves as the operative daily benchmark for cross currency and SDR conversions.