Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 73.305676 from 26 April 2012

[RBI Circular No. 126 dated 14^th May 2012]

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. 105 dated April 10, 2012 , wherein the Rupee value of the Special Currency Basket was indicated as Rs. 70.965327 effective from March 13, 2012.

2. AD Category-I banks are advised that a further revision has taken place on April 23, 2012 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.73.305676 with effect from April 26, 2012.

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.