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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 22, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.4881 on March 22, 2017.

The corresponding rate for the previous day (March 21, 2017) was ₹ 65.3117.

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 21, 2017 March 22, 2017
1 EUR 70.2950 70.7206
1 GBP 80.6273 81.6833
100 YEN 57.95 58.70
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2522


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