RBI sets rupee reference rate at 65.1272 against US dollar

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 92.5197 and 60.84 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

Economists at Singaporean bank DBS also said they continue to expect the RBI to stay put with a pause in 2018. (Express Photo by Pradip Das)

The Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 65.1272 against the US dollar and 80.5884 for the euro. The corresponding rates were 64.9386 and 79.9047, as on Tuesday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 92.5197 and 60.84 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

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