Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 86.903352 from 13 Sept 2013

[RBI Circular No. 55 dated 26^th September 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.49 dated September 20, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.90.052266 effective from September 04, 2013.

2. AD Category-I banks are advised that a further revision has taken place on September 10, 2013 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.86.903352 with effect from September 13, 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.