Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 83.137417 w.e.f. 12 Aug 2014

[RBI Circular No. 20 dated 12^th August 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. 134 dated May 26, 2014 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 80.603699 effective from May 21, 2014.

2. AD Category-I banks are advised that a further revision has taken place on August 07, 2014 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.83.137417 with effect from August 12, 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.