Rupee Value under Indo-USSR Deferred Payment Protocols Revised to 86.513657 w.e.f. 18 Nov’13

[RBI Circular No. 76 dated 19^th November 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.64 dated October 22, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.83.819978 effective from October 17, 2013.

2. AD Category-I banks are advised that a further revision has taken place on November 12, 2013 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.86.513657 with effect from November 18, 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.