Rupee Value under Indo-USSR Deferred Payment Protocols Revises to Rs. 80.9604520 from 25 Jan 2016

[RBI Circular No. 41 dated 4th February 2016]

Sub: Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR.

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 25 dated November 05, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 78.1657270 effective from October 28, 2015.

2.    AD Category-I banks are advised that a further revision has taken place on January 20, 2016 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs. 80.9604520 with effect from January 25, 2016.

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 section 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.