The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 52] NEW DELHI, TUESDAY. JANUARY 30, 1979/MAGHA 10. 1900
Separate paging is given to this Part in order that it may be filed as a separate
compilation.
108 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. '3(if)JMINISTRY OF FINANCE
(Department of Economic Affairs)
ORDER
New Delhi, the 30th January, 1979
S.O. 59(E) In exercise oi the powers ionferred byi section 40 of tb? Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby makes the following amendment in the Order of the Government of India in the Ministry of Finance (Department of Fconomic Affairs), No. S.O. 535 (E), dated the 24th September, 1975, namely :—
In the Schedule annexed to the said Older, for the entry in column 4, the
following entry shall be substituted, namely :—
"The rate of exchanjtc shall be the rate calculated with reference to the vali* of the rupee in terms of such major international currency units as the Reserve Bunk may, subject to the approval of the Cen- tral Government, consider to be appropriate or necessary for this purpose, and with reference (o such weights for the said currency units as may be specified by the Central Government in this behalf. The buying and selling rates for the pound sterling shall be so determined that the \.:lue of the rupee shall be within a margin not exceeding 5 per cent. On either side of the value thus arrived ate
Provided that the buying and selling rates as so determined shall be ex-
pressed in terms of pound sterling per Rs. 100".
[No. F. 1/22/79,-B. P.]
MANMOHAN SINGH, Secy.