Foreign Exchange Developments - RBI - Reserve Bank of India
Foreign Exchange Developments
Foreign Exchange Developments February 2011 Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR In terms of A.P. (DIR Series) Circular No.02 dated July 21, 2010, the Rupee value of the special currency basket was indicated as `62.788607 effective from July 7, 2010. AD Category-I banks were advised that a further revision has taken place on January 26, 2011 and accordingly, the Rupee value of the special currency basket has been fixed at `64.7004 with effect from January 31, 2011. [A.P. (DIR Series) Circular No. 41 dated February 11, 2011] Exim Bank’s Line of Credit of USD 1 billion to the Government of the People’s Republic of Bangladesh Export-Import Bank of India (Exim Bank) has concluded an Agreement dated August 7, 2010 with the Government of the People’s Republic of Bangladesh making available to the latter, a Line of Credit (LOC) of USD 1 billion (USD one billion) for financing eligible goods and services including project exports and consultancy services in Bangladesh. The Credit Agreement under the LOC is effective from February 1, 2011 and the date of execution of Agreement is August 7, 2010. Under the LOC, the last date for opening of Letters of Credit and Disbursement will be 48 months from the scheduled completion date(s) of contract(s) in the case of project exports and 72 months (August 6, 2016) from the execution date of the Credit Agreement in the case of supply contracts. [A.P. (DIR Series) Circular No. 42 dated February 14, 2011] Exim Bank’s Line of Credit of USD 416.39 million to the Government of the Democratic Socialist Republic of Sri Lanka Export-Import Bank of India (Exim Bank) has concluded an Agreement dated November 26, 2010 with the Government of the Democratic Socialist Republic of Sri Lanka making available to the latter, a Line of Credit (LOC) of USD 416.39 million (USD four hundred sixteen million three hundred ninety thousand) for financing eligible goods and services including consultancy services for financing (i) Track laying by IRCON on the Omanthai- Pallai sector (USD 185.35 million), (ii) Track laying by IRCON on the Madhu Church-Tallaimannar sector (USD 149.74 million), and (iii) Track laying on the Medawachchiya- Madhu railway line (USD 81.30 million) in Sri Lanka. The Credit Agreement under the LOC is effective from January 24, 2011 and the date of execution of Agreement is November 26, 2010. Under the LOC, the last date for opening of Letters of Credit and Disbursement will be 48 months from the scheduled completion date(s) of contract(s) in the case of project exports and 72 months (November 25, 2016) from the execution date of the Credit Agreement in the case of supply contracts. [A.P. (DIR Series) Circular No. 43 dated February 14, 2011] |