RBI sets rupee reference rate at 64.9055 against US dollar

The Reserve Bank of India on Monday fixed the reference rate of the rupee at 64.9055 against the US dollar and 80.2557 for the euro.

The corresponding rates were 65.1333 and 80.3354, as on March 23.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 91.8672 and 61.82 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.

Earlier in the day rupee strengthened by 10 paise to 64.91 against the US dollar at the interbank forex market on sustained selling of the greenback by exporters and banks amid foreign capital inflows.

On Friday, the rupee had gained 10 paise to end at 65.01 against the US currency which suffered losses in global markets on intensifying trade war worries.