July 17, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.7800 and the Reference Rate for Euro is Rs.49.4000 on July 17, 2002. The corresponding rates for the previous day (July 16, 2002) were Rs.48.8200 and Rs.49.1100 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 16, 2002	76.6865	42.02
July 17, 2002	76.7870	42.1200

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 : 2002-03/62