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

A.P. (DIR Series) Circular No.4

July 9, 2002

To,

All Authorised Dealers in Foreign Exchange

Madam/Sirs,

Deferred Payments 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.46 dated May 15, 2002 read with AP (DIR Series) Circular No.50 dated June 5, 2002 wherein the rupee value of the special currency basket effective from May 9, 2002 was indicated.

2. Authorised Dealers are advised that a further change has taken place on June 24, 2002 and accordingly the rupee value of the special currency basket effective from June 27, 2002 has been fixed at Rs.55.7981.

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