March 17, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.6600 and the Reference Rate for Euro is Rs.51.6000 on March 17, 2003. The corresponding rates for the previous day (March 13, 2003 ) were Rs.47.6600 and Rs.51.8400 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
March 13, 2003	76.4443	40.36
March 17, 2003	75.6769	40.4500

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 : 2002-2003/967