June 9, 1999

A.D.(G.P. Series) Circular No.7

To

Dear Sirs,

Attention of authorised dealers is invited to A.D.(G.P. Series) Circular No.23 dated 10th October 1998 wherein the rupee value of the special currency basket effective from 5th October 1998 was indicated.

2. Authorised dealers are advised that a further change has taken place on 4th June 1999 and accordingly the rupee value of the special currency basket effective from 8th June 1999 has been fixed at Rs.50.3297.

3. Authorised dealers may bring the contents of this circular to the notice of their constituents.

4. The directions contained in this circular have been issued under Section 73(3) of the Foreign Exchange Regulation Act, 1973 (46 of 1973) and any contravention or non-observance thereof is subject to the penalties prescribed under the Act.

Yours faithfully,

Chief General Manager