July 24, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.6700 and the Reference Rate for Euro is Rs.48.2400 on July 24, 2002. The corresponding rates for the previous day (July 23, 2002) were Rs.48.7000 and Rs.48.6100 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 23, 2002	76.5004	41.57
July 24, 2002	76.0858	41.4600

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 : 2002-03/87