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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 : May 24, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 64.8586 on May 24, 2017.

The corresponding rate for the previous day (May 23, 2017) was ₹ 64.7751.

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 23, 2017 May 24, 2017
1 EUR 72.7489 72.4730
1 GBP 84.0327 84.0957
100 YEN 58.37 57.96
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/3156


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