May 28, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.9600 and the Reference Rate for Euro is Rs.55.5600 on May 28, 2003. The corresponding rates for the previous day (May 27, 2003) were Rs.46.8400 and Rs.55.4700 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
May 27, 2003	76.7661	40.03
May 28, 2003	77.1482	40.09

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 : 2002-2003/1207