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of <h1>Rupee Value Update for USSR Payment Protocols: New Rate Set at Rs. 56.6777 from Nov 29, 2007.</h1> The circular addresses Authorized Dealer Category - I banks regarding the deferred payment protocols between the Government of India and the erstwhile USSR, dated April 30, 1981, and December 23, 1985. It informs banks of a revision in the rupee value of the special currency basket, which has been updated to Rs. 56.6777 effective from November 29, 2007. The banks are instructed to communicate this change to relevant parties. The circular is issued under the Foreign Exchange Management Act, 1999, and does not affect any other required permissions or approvals under different laws.
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