Special currency basket valuation revised, affecting rupee conversion rate and AD Category I bank reporting obligations under FEMA. Revision of the rupee valuation of the special currency basket under the Deferred Payment Protocols is notified, fixing the rupee value at Rs.60.5828 effective May 13, 2008, and AD Category I banks are directed to inform constituents. The circular is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other statutory permissions.
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Special currency basket valuation revised, affecting rupee conversion rate and AD Category I bank reporting obligations under FEMA.
Revision of the rupee valuation of the special currency basket under the Deferred Payment Protocols is notified, fixing the rupee value at Rs.60.5828 effective May 13, 2008, and AD Category I banks are directed to inform constituents. The circular is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other statutory permissions.
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