December 29,2004

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.43.7400 and the Reference Rate for Euro is Rs.59.6100 on December 29,2004. The corresponding rates for the previous day (December 28,2004) were Rs.43.7800 and Rs.59.5300 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
December 28,2004	84.6311	42.45
December 29,2004	84.5144	42.35

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.

Ajit Prasad
Manager

Press Release : 2004-2005/676