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 16, 2017

RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.3836 on March 16, 2017.

The corresponding rate for the previous day (March 15, 2017) was ₹ 65.5146.

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	March 15, 2017	March 16, 2017
1 EUR	69.6224	70.1893
1 GBP	80.0654	80.2649
100 YEN	57.08	57.73
Note : The SDR-Rupee rate will be based on the reference rate.