Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 83.819978 w.e.f. 17 Oct 2013

[RBI Circular No. 64 dated 22^nd October 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.55 dated September 26, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.86.903352 effective from September 13, 2013.

2. AD Category-I banks are advised that a further revision has taken place on October 11, 2013 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.83.819978 with effect from October 17, 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.