The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 149] NEW DELHI, TUESDAY, SEPTEMBER 16, 1969/BHADRA 25, 1891
Separate paging is given to this Part in order that it may be filed as a separate compilation.
MINISTRY OF FOREIGN TRADE & SUPPLY
PUBLIC NOTICE
IMPORT TRADE CONTROL
New Delhi, the 16th September 1969
SUBJECT:—Deposit of Rupee equivalents by importers under Direct Payment Proce-
dure as applicable to foreign credits-Revision of Composite Rate
between French Franc and the Indian Rupee.
No. 152-ITC(PN)/69,—Consequent upon the devaluation of the French Franc, the I.M.F. Parity Rate between the French Franc and the Indian Rupee has under- gone a change from FF l=Rs. 1:519 to French Franc l=Rs, 1.35. This change in the Parity Rate has necessitated a revision in the composite rate between the French Franc and the Indian Rupee applicable for recovery of rupee equivalents from the importers under Direct Payment Procedure under the French Credits and the Credits received from I.B.R.D./I.D.A. etc.
2. The revised composite rate will be FF l=Rs. 1.364 as against FF 1 = 1.534 as hitherto.
788 THE GAZETTE OF INDIA EXTRAORDINARY [PART I—SEC. 1] 4. The licensing conditions /public notice/Bank guarantees governing individual,import licences may be deemed to have been amended suitably in the light of this public notice.
5. The authorised dealers in Foreign exchange may act in accordance with the provision of this Public Notice wlthouf Insisting on any separate authority in each Individual case.
H. J. REBELLO,
Chief Controller of Imports and Exports.