May 19, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.0600 and the Reference Rate for Euro is Rs.55.0600 on May 19, 2003. The corresponding rates for the previous day (May 14, 2003) were Rs.47.1400 and Rs.54.1600 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 14, 2003	75.8200	40.43
May 19, 2003	76.7784	40.8400

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 : 2002-2003/1170