Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 88.3042 w.e.f. 30 April 2015

[RBI Circular No. 99 dated 14^th May 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. 96 dated April 30, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 85.4813 effective from April 16, 2015.

2. AD Category-I banks are advised that a further revision has taken place on April 27, 2015 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.88.3042 with effect from April 30, 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.