The Reserve Bank of India’s Reference Rate for the US dollar is Rs.44.2873 and the Reference Rate for Euro is Rs.64.1666 on July 26, 2011. The corresponding rates for the previous day (July 25, 2011) were Rs.44.4160 and Rs.63.8654 respectively. Based on the Reference Rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below:

The results of the RBI Repo/Reverse Repo auctions held on July 26, 2011 are:

"First of all, on behalf of the Reserve Bank of India, I want to welcome all of you to this First Quarter Review of Monetary Policy for 2011-12.