RBI/2008-09/306
A. P. (DIR Series) Circular No. 38

December 04, 2008

To,

All Authorised Dealer Category – I Banks

Madam / Sir,

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. 24 dated October 16, 2008 wherein the rupee value of the special currency basket was indicated as Rs. 65.4398 effective from September 23, 2008.

2. AD Category – I banks are advised that a further revision has taken place on November 05, 2008 and accordingly, the rupee value of the special currency basket has been fixed at Rs. 62.5050 with effect from November 10, 2008.

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, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(Salim Gangadharan)
Chief General Manager-in-charge