FOREIGN EXCHANGE MANAGEMENT

With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Notifications

(17 kb)
Date : Feb 04, 2016
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2015-16/305
A.P. (DIR Series) Circular No. 41

February 04, 2016

To

All Category - l Authorised Dealer Banks

Madam / Sir,

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985
between Government of India and erstwhile USSR

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 25 dated November 05, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 78.1657270 effective from October 28, 2015.

2. AD Category-I banks are advised that a further revision has taken place on January 20, 2016 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs. 80.9604520 with effect from January 25, 2016.

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 section 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,

(B P Kanungo)
Principal Chief General Manager

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