To,
All Authorised Dealer Category I Banks
Madam / Sir,
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. 01 dated July 6, 2006, wherein the rupee value
of the special currency basket was indicated as Rs. 60.4958 effective from May
31, 2006.
2. AD Category I banks are advised that a further revision
has taken place on October 17, 2006 and accordingly, the rupee value of the
special currency basket has been fixed at Rs. 58.6627 with effect from October
20, 2006.
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, 1999
(42 of 1999) and is without prejudice to permissions / approvals, if any, required
under any other law.
Yours faithfully,
(M. Sebastian)
Chief General Manager