May 22, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.9100 and the Reference Rate for Euro is Rs.54.5800 on May 22, 2003. The corresponding rates for the previous day (May 21, 2003) were Rs.46.7600 and Rs.54.8000 respectively. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of GBP and Japanese Yen against the rupee are:

Date	Currency
	1 GBP	100 YEN
May 21, 2003	76.7776	40.09
May 22, 2003	76.5853	39.8700

Note : The reference rate is based on 12 noon rates of a few select banks in Mumbai. The SDR-Rupee rate will be based on this rate.

P. V. Sadanandan
Manager

Press Release : 2002-2003/1186