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of <h1>RBI Updates Rupee Value for Deferred Payment Protocols with Former USSR Effective April 2, 2004.</h1> The Reserve Bank of India issued a circular to all authorized dealers in foreign exchange regarding the Deferred Payment Protocols between the Government of India and the former USSR, dated April 30, 1981, and December 23, 1985. The circular informs dealers of a revision in the rupee value of the special currency basket, which was adjusted from Rs. 59.3395 to Rs. 56.8476, effective April 2, 2004. Dealers are instructed to inform their concerned constituents about this change. These directions are issued under the Foreign Exchange Management Act, 1999.
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