January 29, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.8600 and the Reference Rate for Euro is Rs.52.0400 on January 29, 2003. The corresponding rates for the previous day (January 28, 2003 ) were Rs.47.9200 and Rs.51.8600 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
January 28, 2003	78.2845	40.40
January 29, 2003	78.8757	40.5800

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 : 2002-2003/796