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of <h1>RBI Updates Rupee Value for Deferred Payments Protocols with Former USSR Effective August 19, 2003, Under FEMA 1999.</h1> The Reserve Bank of India issued a circular to all authorized dealers in foreign exchange regarding the Deferred Payments Protocols between the Government of India and the former USSR, dated April 30, 1981, and December 23, 1985. The circular informs dealers of a change in the rupee value of the special currency basket, effective from August 19, 2003, now fixed at Rs. 55.7865. Dealers are instructed to communicate this update to relevant parties. These directions are issued under the Foreign Exchange Management Act, 1999.
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