RBI sets rupee reference rate at 67.8707 against US dollar

Exchange rate for pound was 85.86, while for every 100 yen it stood at 59.41

The Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 67.8707 against the US dollar and 72.7506 for the euro.

The corresponding rates were 68.0322 and 73.1074 on Tuesday.

According to a RBI statement, the exchange rates for the pound and the yen against the rupee were 85.8632 and 59.41 per 100 yen, 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.