Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 83.45023 from 12 Aug 2013

[RBI Circular No. 26 dated 14^th August 2013]

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.05 dated July 08, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.80.972091 effective from June 25, 2013.

2. AD Category-I banks are advised that a further revision has taken place on August 06, 2013 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.83.45023 with effect from August 12, 2013.

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.