Reference rate fixed at 70 7695 against USD

Reference rate fixed at 70 7695 against USD

Agency News

Mumbai, Sep 3: The Financial Benchmarks India Private Limited (FBIL) on Monday fixed the reference rate a against the US Dollar 70. 7695 down by 15. Demand for the dollar by importers led to some depreciation for the rupee, say analysts.

60 paise over the previous rate of 70. 9255. The Euro was fixed 82. According to an FBIL statement, the exchange rates for the pound and the yen against the rupee were 91.3582 and 63.80 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

Financial Benchmark India Private Ltd (FBIL) was jointly promoted by Fixed Income Money Market & Derivative Association of India (FIMMDA), Foreign Exchange Dealers’ Association of India (FEDAI) and Indian Banks’ ‘Association (IBA). It was incorporated on 9th December 2014 under the Companies Act 2013. It was recognised by Reserve bank of India as an independent Benchmark administrator on 2nd July 2015. UNI