RBI/2004 - 05/ 487
A.P. (DIR Series) Circular No. 45
June 08, 2005
To
All Banks Authorised to Deal in Foreign Exchange
Madam / Sirs,
Deferred Payment Protocols dated April 30,
1981 and December 23, 1985 between the Government of India and erstwhile USSR
Attention of Authorised Dealer
(AD) banks is invited to A.P.
(DIR Series) Circular No. 33 dated February 09, 2005 wherein the rupee value
of the special currency basket was indicated as Rs. 58.6940 effective from January
20, 2005.
2. Authorised Dealer banks are advised that
a further revision has taken place on May 16, 2005 and accordingly, the rupee
value of the special currency basket has been fixed at Rs.56.9296 with effect
from May 19, 2005.
3. Authorised Dealer banks may bring the
contents of this circular to the notice of their constituents concerned.
4. The direction contained in this circular
has 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,
(Vinay Baijal)
General Manager-in-Charge
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