RBI reference rates for US dollar and euro

RBI reference rates for US dollar and euroThe apex bank of the country, Reserve Bank of India made known on Monday that is has fixed the reference rates for the US dollar at Rs. 46.61 a dollar and for the European currency euro it has fixed a reference rate of Rs. 59.28 for every euro. This is comparable to Rs. 46.58 for every dollar and Rs. 59.66 for every euro, as was the case on last Friday.

In a recent press release held by the Reserve Bank of India, the apex bank declared the exchange rate of the British pound against the Indian rupee as Rs. 72.5974 per pound whereas for the Japanese yen against the rupee it fixed Rs. 54.58 for every100 yen.

This was based on the reference rate decided for the US dollar and middle rates of the cross currency quotations during mid day.

The reference rate decided by the apex bank has been based upon the 12 noon rates of certain banks in Mumbai.

Even the SDR-Rupee rate will be based upon this rate, according to the press release.