December 18, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.1500 and the Reference Rate for Euro is Rs.49.4800 on December 18, 2002. The corresponding rates for the previous day (December 17, 2002) were Rs.48.1300 and Rs.49.4900 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
December 17, 2002	76.7553	39.84
December 18, 2002	77.0015	39.7100

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.

N.S.D.Lobo
Asst. Manager

Press Release : 2002-2003/634