RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI-400 001 RBI/2004/174
April 22, 2004
A.P. (DIR Series) Circular No.88
To,
All Authorised Dealers in Foreign Exchange
Madam/Sirs,
Deferred Payment Protocols dated
30th April 1981 and 23rd December 1985 between the Government
of India and erstwhile USSR
Attention of Authorised Dealers is invited
to A.P.(DIR
Series) Circular No.59 dated January 19, 2004, wherein the rupee
value of the special currency basket was indicated as Rs.59.3395 effective from
January 01, 2004.
2. Authorised Dealers are advised that a
further revision has taken place on March 29, 2004 and accordingly the rupee
value of the special currency basket has been fixed at Rs. 56.8476 with effect
from April 02, 2004.
3. Authorised Dealers 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).
Yours faithfully,
Grace Koshie
Chief General Manager
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