December 19, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.1100 and the Reference Rate for Euro is Rs.49.3400 on December 19, 2002. The corresponding rates for the previous day (December 18, 2002) were Rs.48.1500 and Rs.49.4800 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 18, 2002	77.0015	39.71
December 19, 2002	76.9880	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.

P. V. Sadanandan
Manager

Press Release : 2002-2003/639