REGISTERED No. D. (D)-72

The Gazette of India

EXTRAORDINARY

PART I-Section 1

PUBLISHED BY AUTHORITY

No. 49] N E W 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

(169)

1404 GI/80

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.

PRINTED I!Y THE MANAGER, GOVT. OF INDIA PRESS, JUNC ROAD, NEW DELHI-110064

AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI-110054, 1981