January 31, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.8000 and the Reference Rate for Euro is Rs.51.6300 on January 31, 2003. The corresponding rates for the previous day (January 30, 2003 ) were Rs.47.8200 and Rs.51.7900 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 30, 2003	78.7380	40.33
January 31, 2003	79.0325	40.1300

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 : 2002-2003/805