Rupee Value Under Indo-USSR Deferred Payment Protocols Revised to Rs. 80.603600 w.e.f. 21 May 2014

[RBI Circular No. 134 dated 26th May 2014]

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. 80 dated December 16, 2013 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 83.564155 effective from December 12, 2013.

2.  AD Category-I banks are advised that a further revision has taken place on May 16, 2014 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.80.603699 with effect from May 21, 2014.

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.