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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, 2018
RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 67.9577 on May 18, 2018.

The corresponding rate for the previous day (May 17, 2018) was ₹ 67.7156.

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, 2018 May 18, 2018
1 EUR 79.8909 80.2784
1 GBP 91.6463 91.8788
100 YEN 61.28 61.31
Note : The SDR-Rupee rate will be based on the reference rate.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/3032


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