December 23, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.9900 and the Reference Rate for Euro is Rs.49.3000 on December 23, 2002. The corresponding rates for the previous day (December 20, 2002) were Rs.48.0500 and Rs.49.3500 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 20, 2002	76.9929	39.82
December 23, 2002	76.9280	39.9100

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 : 2002-2003/655