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 17, 2017

RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 65.5411 on March 17, 2017.

The corresponding rate for the previous day (March 16, 2017) was ₹ 65.3836.

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 16, 2017	March 17, 2017
1 EUR	70.1893	70.6074
1 GBP	80.2649	80.9957
100 YEN	57.73	57.84
Note : The SDR-Rupee rate will be based on the reference rate.