Rupee Value under Indo-USSR Deferred Payment Protocols Revised to Rs. 85.4813 w.e.f. 16 April 2015

[RBI Circular No. 96 dated 30th April 2015]

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. 29 dated September 12, 2014 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 80.580297 effective from September 09, 2014.

2.  AD Category-I banks are advised that a further revision has taken place on April 10, 2015 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.85.4813 with effect from April 16, 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 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.