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53876017

RBI Reference Rate for US $ and Euro

July 1,2005

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.43.5300 and the Reference Rate for Euro is Rs.52.3800 on July 1,2005. The corresponding rates for the previous day (June 30,2005) were Rs.43.5100 and Rs.52.6800 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

June 30,2005

78.7509

39.51

July 1,2005

77.5900

39.19

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 : 2005-2006/2

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