The Reserve Bank of India (RBI) fixed the reference rate for the US dollar at Rs 44.40 per dollar and the Euro at Rs 61.58 per euro, as against Rs 44.26 per dollar and Rs 61.81 per Euro respectively.

In a press release issued by the RBI, the exchange rate of the pound and yen against the rupee were quoted at Rs 71.59 per pound and Rs 54.89 per 100 yen, respectively, based on the reference rate of the US dollar and cross currency quotes at noon.

The reference rate is based on the noon rates of select banks in Mumbai and the SDRRupee rate would be based on this rate, the release added.