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of <h1>RBI Updates Rupee Value for Deferred Payment Contracts with Former USSR to 54.1262, Effective May 9, 2002.</h1> The public notice dated June 24, 2002, issued by the Directorate General of Foreign Trade, addresses the revision of the Indian Rupee value of special currency baskets for deferred payment contracts. These contracts were established under protocols between the Government of India and the former USSR, covering periods from 1981 to 1990 for machinery and equipment deliveries. The Reserve Bank of India has updated the Rupee value to 54.1262, effective May 9, 2002. This revision applies to contracts under the deferred payment agreements dated April 30, 1981, and December 23, 1985.
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