Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases  ||  SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension  ||  SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace  ||  SC: Women’s Representation Requirement Applies to All Bar Associations in Gujarat  ||  SC: Contempt Power isn’t Judges’ Personal Shield nor a Tool to Silence Legitimate Criticism  ||  SC: Statutory Corporation Can Deduct under S.36(1)(viii) Only for Income from Long-Term Finance  ||  NCLT Kolkata: Costs for Compromise or Arrangement Scheme not Part of Liquidation Expenses  ||  NCLT Ahmedabad: Complaints Against Auditors or Company Secretaries Not Grounds for Company Probe  ||  SC: NCLT Can Forfeit Entire Deposit if Purchaser Defaults on Payment for Liquidation Assets  ||  Meghalaya HC: Non-Signatory or Non-Existent LLP Cannot Claim Arbitration via Group of Companies    

Revised - Computation, Dissemination of RBI Reference Rate- (Reserve Bank of India) (21 Apr 2016)

MANU/RPRL/0119/2016

Commercial

The Reserve Bank of India notified revisions to the methodology adopted for computing the daily Reference Rate for spot US Dollar against Indian Rupee. At present the Bank determines the rate through a polling process involving rates obtained from select banks.

Under the revised system, the rate will be computed on the basis of the Volume Weighted Average of the actual market transactions that take place during a randomly selected 15 minute window between 11.30 am and 12.30 pm every weekday. Transaction data from electronic trading platforms will then be utilised for calculating the Reference Rate. Rates for Euro, Pound Sterling and Japanese Yen will continue to be computed by cross-referencing their valuation with the USD-INR.

The new system will come into effect on 2 May 2016.

Tags : REFERENCE RATE   USD   WEIGHTED AVERAGE   LIBOR  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved