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RBI Reference Rate for US $ and Euro

September 16, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.4000 and the Reference Rate for Euro is Rs.46.9600 on September 16, 2002. The corresponding rates for the previous day (September 13, 2002) were Rs.48.4500 and Rs.47.5800 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

September 13, 2002

75.6111

40.52

September 16, 2002

75.0006

39.7000

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 : 2002-03/292

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