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

(154 kb)

Date : Feb 28, 2017

RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 66.7375 on February 28, 2017.

The corresponding rate for the previous day (February 27, 2017) was ₹ 66.7249.

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
Currency	February 27, 2017	February 28, 2017
1 EUR	70.5149	70.7151
1 GBP	82.8923	83.0548
100 YEN	59.51	59.35
Note : The SDR-Rupee rate will be based on the reference rate.