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FOREIGN EXCHANGE MANAGEMENT

With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Press Release


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Date : Mar 20, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.3827 on March 20, 2017.

The corresponding rate for the previous day (March 17, 2017) was ₹ 65.5411.

Based on the reference rate for the US Dollar and the middle rates of the cross-currency quotes, the exchange rate of EUR, GBP and JPY against the Rupee are given below:

Currency Date
March 17, 2017 March 20, 2017
1 EUR 70.6074 70.3779
1 GBP 80.9957 81.0157
100 YEN 57.84 58.06
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2016-2017/2498


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