The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 54.2933 and the Reference Rate for Euro is Rs. 70.6107 on March 11, 2013. The corresponding rates for the previous day (March 8, 2013) were Rs. 54.4035 and Rs. 71.2385 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.

J.D. Desai

Assistant Manager

 Press Release : 2012-2013/1519

Reference rates set for major currencies determine published exchange benchmarks and guide SDR conversion and cross currency quotations. The central bank published Reference Rates for the US dollar and the Euro, provided prior-day comparators, and reported derived exchange rates for other currencies based on the US dollar Reference Rate and middle cross currency rates; the release states that the SDR-Rupee rate will be based on the published Reference Rate, thereby supplying official daily benchmarks for conversion and quotation conventions.