December 27,2004

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.43.8400 and the Reference Rate for Euro is Rs.59.3600 on December 27,2004. The corresponding rates for the previous day (December 24,2004) were Rs.43.8100 and Rs.59.1200 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 24,2004	84.1897	42.24
December 27,2004	84.3832	42.24

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 : 2004-2005/667