RESERVE BANK OF INDIA
EXCHANGE CONTROL DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001

A.P.( DIR Series ) Circular No. 46

May 15 , 2002

To

All Authorised Dealers in Foreign Exchange

Madam/Sirs,

Deferred Payments Protocols dated 30^th April
1981 and 23^rd December 1985 between the
Government of India and erstwhile USSR

Attention of authorised dealers is invited to A.P. ( DIR Series ) Circular No.14 dated 5^th December 2001 wherein the rupee value of the special currency basket effective from 22^nd November 2001 was indicated.

2. Authorised Dealers are advised that a further change has taken place on 6^th May 2002 and accordingly the rupee value of the special currency basket effective from 9^th May 2002, has been fixed at Rs.62.5450 with lower and upper limits being Rs. 60.6687 and Rs.64.4214 respectively.

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 Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).

Yours faithfully,

Grace Koshie

Chief General Manager