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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 : May 24, 2018
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 68.3872 on May 24, 2018.

The corresponding rate for the previous day (May 23, 2018) was ₹ 68.2139.

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
May 23, 2018 May 24, 2018
1 EUR 80.2400 80.1430
1 GBP 91.4271 91.4405
100 YEN 61.74 62.40
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/3080


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