A.P. (DIR Series) Circular No. 41(February 11, 2011)

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.02 dated July 21, 2010, wherein the Rupee value of the special currency basket was indicated as Rs.62.788607 effective from July 7, 2010.

2.         AD Category-I banks are 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 Rs.64.7004 with effect from January 31, 2011.

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,

(G.Jaganmohan Rao)
Chief General Manager