RBI/2009-10/98
A.P. (DIR Series) Circular No.02

July  03, 2009.

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.59 dated March 24, 2009, wherein the rupee value of the special currency basket was indicated as Rs.67.2425 effective from March 05, 2009.

2. AD Category-I banks are advised that a further revision has taken place on May 19, 2009 and accordingly, the rupee value of the special currency basket has been fixed at Rs.64.6153 with effect from May 22, 2009.

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-in-charge