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RBI Reference Rate for US $ and Euro

December 31, 2002

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.48.0300 and the Reference Rate for Euro is Rs.50.3400 on December 31, 2002. The corresponding rates for the previous day (December 30, 2002) were Rs.47.9600 and Rs.50.0600 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 30, 2002

76.9734

39.99

December 31, 2002

77.0425

40.5300

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 : 2002-2003/682

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