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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 18, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 64.3441 on May 18, 2017.

The corresponding rate for the previous day (May 17, 2017) was ₹ 64.0214.

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 17, 2017 May 18, 2017
1 EUR 71.1598 71.6214
1 GBP 82.7669 83.3063
100 YEN 56.99 57.80
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2016-2017/3102


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