July 22, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.7000 and the Reference Rate for Euro is Rs.49.2900 on July 22, 2002. The corresponding rates for the previous day (July 19, 2002) were Rs.48.7400 and Rs.49.5500 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 19, 2002	77.1164	42.0600
July 22, 2002	76.7731	41.9300

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 : 2002-03/78