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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


PDF document (154 kb)
Date : Mar 23, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.4220 on March 23, 2017.

The corresponding rate for the previous day (March 22, 2017) was ₹ 65.4881.

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 22, 2017 March 23, 2017
1 EUR 70.7206 70.6688
1 GBP 81.6833 81.8495
100 YEN 58.70 58.81
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2540


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