Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 78.1657270 w.e.f. 28 Oct 2015

[RBI Circular No. 25 dated 5^th November 2015]

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. 10 dated September 03, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 81.3268160 effective from August 27, 2015.

2. AD Category-I banks are advised that a further revision has taken place on October 23, 2015 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.78.1657270 with effect from October 28, 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 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.