RBI MPC member predicts ‘less severe’ high food inflation
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member highlighted that going ahead, as India develops, the problem of high food inflation would be "less severe".
The Reserve Bank of India on Monday fixed the reference rate of the rupee at 63.7375 against the US dollar and 75.1019 for the euro.
The corresponding rates were 63.7091 and 75.6609, as on Aug 4,2017.
According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.1583 and 57.55 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.
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The SDR-rupee figure will be based on this rate, the statement added.
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