---
title: "Exchange Rate as on 31 March 2026: RBI Closing Rates for Ind AS 21, AS 11 and Audit (USD, EUR, GBP, JPY, AED)"
description: "The RBI published no reference rate on 31 March 2026, so the closing rate for FY 2025-26 is the 30 March 2026 table: USD 94.6543, EUR 109.0064, GBP 125.6347, JPY 0.5925, AED 25.7694. What Ind AS 21 and AS 11 require at the reporting date, how to document a holiday year-end, prior-year comparatives, and how to pull the table by API."
canonical: https://allratestoday.com/blog/exchange-rate-31-march-2026-ind-as-21-closing-rate/
source: AllRatesToday (https://allratestoday.com/) — Markdown mirror of the page above; index of all pages at https://allratestoday.com/llms.txt
generated: 2026-11-09T22:27:02.076Z
---

Every April the same question reaches accountants, auditors and ERP administrators across India: **what is the exchange rate as on 31 March** for translating foreign-currency balances in the year-end accounts? For financial year 2025-26 the answer has a wrinkle, because **31 March 2026 was a bank holiday and the RBI published no reference rate that day**. This page gives the rates, the standard that requires them, and the wording for the working paper.

## The closing rates for 31 March 2026

The last RBI/FBIL reference rate table published before the financial year-end is dated **Monday, 30 March 2026**:

| Currency | RBI reference rate, 30 March 2026 (INR per unit) | Rate on 28 March 2025 (prior year-end) | Change over FY 2025-26 |
| --- | --- | --- | --- |
| USD | **94.6543** | 85.5814 | +10.6% |
| EUR | **109.0064** | 92.3246 | +18.1% |
| GBP | **125.6347** | 110.7389 | +13.5% |
| JPY (per 1 yen) | **0.5925** | 0.5675 | +4.4% |
| AED | **25.7694** | not published in 2025 |  |
| IDR (per 1 rupiah) | **0.00557077** | not published in 2025 |  |

Note that the prior year-end had the same issue: 31 March 2025 was also a holiday, so the FY 2024-25 closing rate is the **28 March 2025** table. Comparatives in the FY 2025-26 statements should carry those figures.

Source: RBI reference rate as published, mirrored in the [RBI reference rate archive](https://allratestoday.com/blog/rbi-reference-rate-history-download/). Verify against the RBI's own Reference Rate Archive before signing.

## What Ind AS 21 asks for

Ind AS 21 *The Effects of Changes in Foreign Exchange Rates* requires, at the end of each reporting period:

- **Monetary items** (receivables, payables, loans, bank balances in foreign currency) to be translated at the **closing rate**, defined as the spot exchange rate at the end of the reporting period.
- **Non-monetary items at historical cost** to stay at the rate on the transaction date.
- **Non-monetary items at fair value** to use the rate on the date the fair value was measured.

The standard does not name a rate source. It also permits a rate that *approximates* the actual spot rate, which is the provision that covers a holiday year-end. Indian practice settles on the RBI reference rate because it is official, independent of any one bank, published daily and archived, so an auditor can re-perform the translation years later.

## What AS 11 asks for

Entities still under Indian GAAP apply AS 11, which requires foreign-currency monetary items to be reported using the **closing rate at the balance sheet date**, with a carve-out: where the closing rate does not reflect the amount likely to be realised, the rate that does should be used. For 31 March 2026 the 30 March table is the closing rate for AS 11 purposes in exactly the same way.

## Documenting a holiday year-end

Write it down once and the question stops coming back. A working-paper note that auditors accept reads roughly:

 Foreign-currency monetary items at 31 March 2026 have been translated at the RBI/FBIL reference rate dated 30 March 2026, the last rate published before the reporting date, 31 March 2026 being a bank holiday on which no reference rate was published. The same approach was applied at 31 March 2025 using the 28 March 2025 rate. The rate is considered to approximate the spot rate at the reporting date within the meaning of Ind AS 21.

Keep a copy of the published table with the note. A JSON or CSV export with the `rate_date` field serves as that copy.

## Which rate the tax computation uses

The financial statements and the tax return use different rates. Income-tax **Rule 115** converts business income at the **SBI TT buying rate** on the last day of the previous year, so the tax team needs SBI's card rate for 31 March 2026 (or the last SBI sheet before it) rather than the RBI figure. The [Rule 115 guide](https://allratestoday.com/blog/sbi-tt-buying-rate-income-tax-rule-115/) explains that rate; expect it to sit 0.2% to 0.4% below the RBI reference rate for USD. For GST on imported goods the CBIC customs rate applies instead. The [India exchange rate API](https://allratestoday.com/exchange-rate-api-india/) page maps each requirement to its rate.

## Pulling the table by API

The dated endpoint returns the closing table and tells you when the requested date had no publication:

```
curl -H "Authorization: Bearer YOUR_KEY" \
  "https://allratestoday.com/api/v1/central-bank/rbi/2026-03-31"
# {
#   "requested_date": "2026-03-31",
#   "rate_date": "2026-03-30",
#   "published_on_requested_date": false,
#   "rates": [
#     { "base": "USD", "quote": "INR", "type": "reference", "value": 94.6543 },
#     { "base": "EUR", "quote": "INR", "type": "reference", "value": 109.0064 },
#     ...
#   ]
# }
```

Add `?format=xlsx` for a workbook or `?format=csv` for the audit file. Today's table is keyless at `/api/open/central-bank/rbi`. For a month-end close in an ERP, the [integrations page](https://allratestoday.com/docs/integrations/) covers Zoho Books, QuickBooks, Business Central and Odoo, and the [Zoho Books and TallyPrime guide](https://allratestoday.com/blog/rbi-reference-rate-zoho-books-tally/) shows the manual route.

## FAQ

### What was the USD to INR exchange rate on 31 March 2026?

The RBI/FBIL reference rate was not published on 31 March 2026 because it was a bank holiday. The last published rate before the year-end, dated 30 March 2026, was USD 94.6543. Most Indian entities use that as the 31 March 2026 closing rate and disclose the holiday.

### Which exchange rate should I use for Ind AS 21 at year-end?

Ind AS 21 requires monetary items to be translated at the closing rate, the spot exchange rate at the end of the reporting period. It does not name a source. The RBI reference rate is the usual choice in India because it is official, independent and archived; the policy should be applied consistently and disclosed.

### What if the reporting date is a holiday and no RBI rate exists?

Ind AS 21 allows a rate that approximates the spot rate at the reporting date. The accepted practice is the last RBI reference rate published before the date, with the working paper stating the actual rate date. For 31 March 2026 that is the 30 March 2026 table.

### Does AS 11 use the same rate?

Yes in substance. AS 11 requires monetary items to be reported at the closing rate at the balance sheet date, and allows an approximation where the closing rate is unrealistic. The RBI reference rate on the last published day satisfies both standards.

### Is the RBI rate the right one for income tax year-end conversions?

No. Income-tax Rule 115 uses the SBI TT buying rate on the specified date, which for business income is the last day of the previous year, 31 March. The RBI rate serves the financial statements; the SBI rate serves the tax computation.

## Closing rates for every month-end

Dated RBI tables back to 2003 with holiday flags, CSV and Excel output, and 128 other official sources on paid plans.

 [See plans](https://allratestoday.com/pricing/)

## Related Articles

- [Exchange rate API for India: RBI, CBIC, bank TT and live INR rates](https://allratestoday.com/exchange-rate-api-india/)
- [RBI exchange rate API — today's table and endpoints](https://allratestoday.com/central-bank-rates-api/rbi/)
- [SBI exchange rates today — TT board as JSON](https://allratestoday.com/bank-exchange-rate-api/in/sbi/)
- [RBI reference rate history: download the archive](https://allratestoday.com/blog/rbi-reference-rate-history-download/)
- [SBI TT buying rate for income-tax Rule 115](https://allratestoday.com/blog/sbi-tt-buying-rate-income-tax-rule-115/)
- [Exchange rates for FEMA reporting and transfer pricing](https://allratestoday.com/blog/fema-transfer-pricing-exchange-rate-india/)
- [RBI reference rate in Zoho Books and TallyPrime](https://allratestoday.com/blog/rbi-reference-rate-zoho-books-tally/)
- [Exchange rates for finance teams](https://allratestoday.com/for-finance-teams/)