July 8, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.8200 and the Reference Rate for Euro is Rs.48.1300 on July 8, 2002. The corresponding rates for the previous day (July 5, 2002) were Rs.48.8200 and Rs.47.5600 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 5, 2002	74.1307	40.52
July 8, 2002	74.8704	41.0500

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: 2002-03/32