Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 77.6331180 w.e.f. 6 May 2015

[RBI Circular No. 105 dated 28th May 2015]

Sub: 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. 99 dated May 14, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 88.3042 effective from April 30, 2015.

2.  AD Category-I banks are advised that a further revision has taken place on May 05, 2015 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.77.6331180 with effect from May 06, 2015.

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.