May 29, 2003

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.0300 and the Reference Rate for Euro is Rs.55.2200 on May 29, 2003. The corresponding rates for the previous day (May 28, 2003) were Rs.46.9600 and Rs.55.5600 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
May 28, 2003	77.1482	40.09
May 29, 2003	76.8846	39.5100

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 : 2002-2003/1217