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

(11 kb)
Date : May 28, 2015
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2014/15/616
A.P. (DIR Series) Circular No. 105

May 28, 2015

To

All Category - I 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 Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 99 dated May 14, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 88.3042 effective from April 30, 2015.

2. AD Category-I banks are advised that a further revision has taken place on May 05, 2015 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.77.6331180 with effect from May 06, 2015.

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,

(A.K. Pandey)
Chief General Manager

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