July 16, 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.49.1100 on July 16, 2002. The corresponding rates for the previous day (July 15, 2002) were Rs.48.8300 and Rs.48.5500 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 15, 2002	75.9087	42.02
July 16, 2002	76.6865	42.0200

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 : 2002-03/58