Rupee Value under Indo-Ussr Deferred Payment Protocol Revised to Rs. 78.374512 per Rouble from 13 June

[Ref: A.P. (DIR Series) Circular No.03 July 04, 2013 dated 4 July 2013]

Subject: Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.112 dated June 20, 2013, wherein the Rupee value of the special currency basket was indicated as Rs.75.705663 effective from June 05, 2013.

2. AD Category-I banks are advised that a further revision has taken place on June 10, 2013 and accordingly, the Rupee value of the special currency basket has been fixed at Rs.78.374512 with effect from June 13, 2013.

3. AD Category-I banks may bring the contents of this circular to the notice of their constituents concerned.

4. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.