Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 81.0297640 from 20 Oct 2016

[RBI Circular No. 12 dated 27^th October 2016]

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

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 79 dated June 30, 2016 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 83.5796140 effective from June 23, 2016.

2. AD Category-I banks are advised that a further revision has taken place on October 17, 2016 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs. 81.0297640 with effect from October 20, 2016.

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 section 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.