To
All
Authorised Dealer Category - I Banks
Madam
/ Sirs,
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. 67 dated June 01, 2007, wherein the rupee value
of the special currency basket was indicated as Rs.56.8292 effective from April
19, 2007.
2.
AD Category-I banks are advised that a further revision has taken place on April
26, 2007 and accordingly, the rupee value of the special currency basket has been
fixed at Rs.54.9580 with effect from May 03, 2007.
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.
Yours
faithfully,
Salim
Gangadharan
Chief General Manager