July 3, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.8100 and the Reference Rate for Euro is Rs.47.8800 on July 3, 2002. The corresponding rates for the previous day (July 2, 2002) were Rs.48.8300 and Rs.48.0600 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
July 2, 2002	74.6342	40.72
July 3, 2002	74.6354	40.5600

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: 2002-03/12