RBI/2004-05/36

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

July 10, 2004

To,

All Authorised Dealers in Foreign Exchange

Madam / Sirs,

Deferred Payment 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.88 dated April 22, 2004, wherein the rupee value of the special currency basket was indicated as Rs.56.8476 effective from April 02, 2004.

2. Authorised Dealers are advised that a further revision has taken place on June 21, 2004 and accordingly the rupee value of the special currency basket has been fixed at Rs.58.6989 with effect from June 24, 2004.
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 Sections 10(4) and 11(1) of the Foreign Exchange Management, Act, 1999 (42 of 1999).

Yours faithfully,

(Grace Koshie)

Chief General Manager