December 21,2004

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.43.8000 and the Reference Rate for Euro is Rs.58.6300 on December 21,2004. The corresponding rates for the previous day (December 20,2004) were Rs.43.9100 and Rs.58.5400 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 20,2004	85.2359	42.07
December 21,2004	85.1647	42.14

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 : 2004-2005/645