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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 : Feb 27, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 66.7249 on February 27, 2017.

The corresponding rate for the previous day (February 23, 2017) was ₹ 66.8351.

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
February 23, 2017 February 27, 2017
1 EUR 70.5444 70.5149
1 GBP 83.1228 82.8923
100 YEN 59.01 59.51
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2016-2017/2292


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