The Reserve Bank of India (RBI) on Monday fixed the reference rate for euro at 59.37 rupees and the reference rate for the U.S. dollar at 44.67 rupees.

The corresponding rates were 59.81 rupees per euro and 44.81 rupees per U.S. dollar respectively as against to the previous date on December 31, 2010.

The exchange rates of pound and Japanese yen against to the Indian rupee is 69.4484 rupees per pound and 54.97 rupees per 100 yen, respectively.

The corresponding rates were 69.2852 rupees per pound and 55.06 rupees per 100 yen respectively as against to the previous date on December 31, 2010.

The reference rates are based on 12 noon rates of a few select banks in Mumbai and the special drawing rights-rupee rate rate will be based on this rate, a RBI press release showed on Monday.