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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 : Oct 16, 2017
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 64.7603 on October 16, 2017.

The corresponding rate for the previous day (October 13, 2017) was ₹ 64.9301.

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
October 13, 2017 October 16, 2017
1 EUR 76.8772 76.3912
1 GBP 86.3051 86.0082
100 YEN 58.01 57.93
Note : The SDR-Rupee rate will be based on the reference rate.

Shailaja Singh
Assistant General Manager

Press Release: 2017-2018/1048


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