Supreme Court: Imminent Death Not Required For a Statement to Qualify as Dying Declaration  ||  SC: HC Cannot Grant Pre-Arrest Bail Without Quashing FIR; Accused Must Approach Sessions Court First  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: GST Exemption on Residential Lease Applies When Building is Sub-Leased for Hostel/PG Use  ||  Rajasthan High Court: Universities Cannot Retain Students’ Original Documents for Pending Fees  ||  NCLT: Damages from Contractual Disputes Cannot Form Basis for Initiating Insolvency Proceedings  ||  Del HC: Pre-SCN Consultation is Unnecessary in Large-Scale GST Fraud Cases with Complex Transactions  ||  Calcutta HC: Unilaterally Appointed Arbitrator Violates Natural Justice and Sets Aside the Award  ||  Raj HC Upholds Padmesh Mishra’s AAG Appointment, Noting Advocacy Skill isn’t Tied to Experience    

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