December 27, 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.49.9100 on December 27, 2002. The corresponding rates for the previous day (December 26, 2002) were Rs.48.0300 and Rs.49.5700 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 26, 2002	76.6343	39.94
December 27, 2002	77.0281	40.0300

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 : 2002-2003/671