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of <h1>RBI Updates Rupee Value for Deferred Payments with Former USSR; New Rate Rs.52.3956 Effective November 22, 2001.</h1> The Reserve Bank of India issued a circular to authorized foreign exchange dealers regarding changes in the rupee value of a special currency basket related to Deferred Payments Protocols between India and the former USSR, dated April 30, 1981, and December 23, 1985. The rupee value was revised to Rs.52.3956 effective November 22, 2001. Dealers are instructed to inform their concerned constituents. These directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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