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The Reserve Bank of India (RBI) on Monday fixed the reference rate for euro at 62.01 rupees and the reference rate for the U.S. dollar at 45.58 rupees.
Reuters
Faros Trading basically agrees with Fitch Ratings, which said in late January that the US will have the “worst” fiscal metrics of any ‘AAA’-rated countries.
A major reason was President Obama’s tax compromise. Moreover, the US has no "credible medium-term fiscal consolidation strategy.”
On the monetary side, the Federal Reserve’s program of quantitative easing may undermine confidence in the US dollar and raise inflation expectations, according to Fitch.
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The corresponding rates were 61.65 rupees per euro and 45.70 rupees per U.S. dollar respectively as against to the previous date on January 21, 2011.
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The exchange rates of pound and Japanese yen against to the Indian rupee is 72.7913 rupees per pound and 55.08 rupees per 100 yen, respectively.
The corresponding rates were 72.7818 rupees per pound and 55.14 rupees per 100 yen respectively as against to the previous date on January 21, 2011.
The reference rates are based on 12 noon rates of a few select banks in Mumbai and the special drawing rights-rupee rate will be based on this rate, a RBI press release showed on Monday.
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(Photo: Reuters / )
Faros Trading basically agrees with Fitch Ratings, which said in late January that the US will have the “worst” fiscal metrics of any ‘AAA’-rated countries.
A major reason was President Obama’s tax compromise. Moreover, the US has no "credible medium-term fiscal consolidation strategy.”
On the monetary side, the Federal Reserve’s program of quantitative easing may undermine confidence in the US dollar and raise inflation expectations, according to Fitch.
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