Special currency basket valuation updated; authorised dealers must apply revised rupee value under FEMA provisions. The Reserve Bank of India circular fixes the rupee value of the special currency basket at Rs.57.5227 effective from March 11, 2003, following a change on March 7, 2003, and advises authorised dealers to apply the revised valuation for transactions under the Deferred Payments Protocols; the directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999.
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Special currency basket valuation updated; authorised dealers must apply revised rupee value under FEMA provisions.
The Reserve Bank of India circular fixes the rupee value of the special currency basket at Rs.57.5227 effective from March 11, 2003, following a change on March 7, 2003, and advises authorised dealers to apply the revised valuation for transactions under the Deferred Payments Protocols; the directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999.
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