The Gazette of India
EXTRAORDINARY
PART I-Section 1
PUBLISHED BY AUTHORITY
No. 49] N EW DELHI, TUESDAY, MARCH 3, 1981/PHALGUNA 1, 1902
Separate paging is given to this Part in order that it may be filed as a separate compilation
170 THE GAZETTE OF INDIA . EXTRAORDINARY [PART I—SEC. I]MINISTRY OF COMMERCE
(Import Trade Control)
PUBLIC NOTICE NO. 9—ITC(PN)/81
New Delhi, the 3rd March, 1981
Subject : Rate of exchange between the Indian Rupee and the Rouble for application in the case of Credit Agreements and Commercial transactions.
F. No. IPC(Genl.) 150/75/Vol. II.—In exercise with the Protocol con- cluded between the Government of India and the Government of the Union of Soviet Socialist Reptiblic (USSR) on November 25, 1978 and consequent on changes in the value of the Indian Rupee in terms of a specified basket of curren- cies, an exchange rate of Rs, 9.7396 per Rouble shall, with effect from February 26, 1980, apply to the settlement of all existing and future credit agreements and commercial transactions between the two countries which have been or may be designated in Roubles. This rate of exchange shall also apply to contracts desig- nated in Indian Rupees where the contract price is specifically linked to the rate of exchange between Ihe rouble and the rupee because of (he period of implementation of the contract being one year or more.
2. The manner of application of the new rate of exchange to various credit and commercial transactions between India and the USSR will remain the same as indicated in Public Notice No. 3-ITC(PN)/79 dated January 5, 1979.
MANI NARAYANSWAMI, Chief Controller of Imports & Exports.