Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 73.923372 per Rouble from 28 November 2011

[RBI Circular No. 54 dated 8^th December 2011]

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. 53 dated December 2, 2011, wherein the Rupee value of the special currency basket was indicated as Rs. 71.668914 effective from October 25, 2011.

2. AD Category-I banks are advised that a further revision has taken place on November 23, 2011 and accordingly, the Rupee value of the special currency basket has been fixed at Rs.73.923372 with effect from November 28, 2011.

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.