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of <h1>RBI Updates Rupee Value for Deferred Payments with Former USSR; New Rate Rs.57.5082 Effective November 21, 2003.</h1> The Reserve Bank of India issued a circular to all authorized dealers in foreign exchange regarding changes in the rupee value of the special currency basket related to Deferred Payments Protocols between the Government of India and the former USSR, dated April 30, 1981, and December 23, 1985. The rupee value, effective from November 21, 2003, is set at Rs.57.5082. Dealers are instructed to inform relevant parties of this update. These directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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