CIR. NO. 70/2006-07-RB, DT. 07/06/2007

Deferred Payment Protocols DT. 30/04/1981 & 23/12/1985 between Govt. of India and erstwhile USSR

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 67 dated June 01, 2007, wherein the rupee value of the special currency basket was indicated as Rs.56.8292 effective from April 19, 2007.

2. AD Category-I banks are advised that a further revision has taken place on April 26, 2007 and accordingly, the rupee value of the special currency basket has been fixed at Rs.54.9580 with effect from May 03, 2007.

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

RBI/2006-2007/430

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