Reserve Bank of India
Exchange Control Department
Central Office
Mumbai 400 001

A.P. (DIR. Series) Circular No.2

June 17, 2000

To,

All Authorised Dealers in Foreign Exchange

Dear 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.D. (G.P. Series) Circular No.5 dated 9^th May 2000 wherein the rupee value of the special currency basket effective from 29^th April 2000 was indicated.

2. Authorised dealers are advised that a further change has taken place on 7^th June, 2000, and accordingly the rupee value of the special currency basket effective from 10^th June, 2000, has been fixed at Rs.51.9072.

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) and any contravention or non-observance of these directions is subject to the penalties prescribed under the Act.

Yours faithfully,

B. MAHESHWARAN

Chief General Manager