RBI’s Reference Rate for Dollar Today

By Raymond Ronamai: Subscribe to Raymond's

February 10, 2012 8:25 AM GMT

The Reserve Bank of India (RBI) on Friday fixed the reference rate for the US dollar at 49.6445 rupees and the euro 65.7995 rupees.

The corresponding rates of dollar and euro for the previous day (February 9, 2012) were 49.2895 rupees and 65.5895 rupees respectively.

Based on the reference rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of British pound as against the rupee is 78.3539 as against 78.0992 on the previous day (February 9, 2012) and that of Japanese yen is 63.94 as against 63.86 the previous day.

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EUR/USD's decline extended further as expected as reached as low as 1.2496. The break of 1.2625 confirmed resumption of whole fall from 1.4939. Initial bias remains on the downside this week.

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