REGISTERED Mo. D.

(D)-72

The Gazette of India

EXTRAORDINARY

PUBLISHED BY AUTHORITY

PART I—Section 1

No. 60]

NEW DELHI, TUESDAY, MARCH 17, 1981/PHALGUNA 26, 1902

Separate paging is given to this Part in order that it may be filed as a separate

compilation

MINISTRY OF COMMERCE

IMPORT TRADE CONTROL

New Delhi, the 17th March, 1981

Public Notice No. 11—ITC(PN)/81

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(Gonl. 150)/75/Vol. II.—In accordance with the

Protocol concluded between the Government of India and the

(203)

1460 GI/80

204

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART I—SEC, 1]

Government of the Union

of Soviet

Socialist

Republics

(USSR) on November 25, 1978 and consequent on changes in

the value of the Indian Rupee in terms of a specified basket of

currencies, an exchange rate of Rs. 9.4189 per Rouble shall,

with effect from March 14, 1981 apply to the settlement of all

existing and future credit agreements and commercial transac-

tions between the two countries which have been or may be

designated in Roubles. This rate of exchange shall also apply

to contracts designated in Indian Rupees where the contract

pries is specifically linked to the rate of exchange between the

Rouble and the Rupee because of the 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 transaction* 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 BY THE MANAGE*, GOVT. OF INDIA PRESS, RINO ROAD, NflW DELHI-110064

AND PUBLI8HED BY THB CONTROLLER OF PUBLICATIONS, DELHI-110054, 1981