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of <h1>Foreign currency claims in insolvency must convert to Indian Rupees using exchange rate on insolvency start date.</h1> Claims in foreign currency during insolvency proceedings must be converted to Indian currency using the official exchange rate on the insolvency commencement date. The 'official exchange rate' refers to the reference rate published by the Reserve Bank of India or derived from such rates. This regulation ensures uniformity in valuing foreign currency claims in the insolvency resolution process for corporate entities as per the Insolvency and Bankruptcy Board of India Regulations, 2016.
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