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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 : Aug 16, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 64.2428 on August 16, 2017.

The corresponding rate for the previous day (August 14, 2017) was ₹ 64.0253.

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
August 14, 2017 August 16, 2017
1 EUR 75.7035 75.3761
1 GBP 83.2777 82.6162
100 YEN 58.43 58.01
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/452


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