RBI fixes rupee rate

MUMBAI: The Reserve Bank of India today fixed the reference rate of rupee against US dollar at 61.8605 and the euro at 85.3085 as against 62.0720 and 85.0285 on last Friday. In a press release issued by RBI, the exchange rates for the pound and yen against the rupee were quoted at 103.5235 and 61.01 per 100 yen, based on reference rates for the dollar and cross-currency quotes at noon. The reference rate is based on the noon rates of select banks here and the SDR-Rupee rate would be based on this rate, the release added.