Reference rate for rupee fixed at 63.5785 against dollar

The rupee on Monday declined by 18 paise to 63.62 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to dollar's gain against other currencies overseas.

The reference rate of rupee at 63.5785 has been fixed at 70.2924 against the US dollar and for the euro as against 63.3963 and 70.3319 respectively as on 3rd July 2015, said the Reserve Bank of India.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were quoted at 99.1062 and 51.89 per 100 yen, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee rate would be based on this rate, the statement added.

Meanwhile, the benchmark BSE Sensex dipped below the 28,000-mark by plunging 315.21, or 1.12 %, to 27,777.58 in early trade.