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Rupee Value of Special Currency Basket Revised to Rs 75.705663

Current · Source: Reserve Bank of India · RBI/2012-13/537 · issued 20 Jun 2013 · ~1 min read

Quick answerRBI revised the Rupee value of the special currency basket under the Deferred Payment Protocols with the erstwhile USSR to Rs 75.705663, effective June 5, 2013. AD Category-I banks must update their systems and inform constituents.

The rule, in the simplest words

AD Category-I banks must update their systems with the new Rupee value of Rs 75.705663 for the special currency basket effective June 5, 2013.
AD Category-I banks must inform all relevant constituents about the revised rate for deferred payment transactions.
AD Category-I banks must ensure compliance with FEMA sections 10(4) and 11(1) when processing related payments.

How it plays out — a real example

Ramesh, a forex & trade-finance officer in Indore, made sure to update the system with the new Rupee value of Rs 75.705663 for the special currency basket. He then informed his clients about the revised rate for deferred payment transactions, ensuring they were aware of the changes. This helped Ramesh's bank stay compliant with FEMA sections 10(4) and 11(1) when processing related payments.

What changed

The Rupee value of the special currency basket was revised from Rs 73.141761 (effective March 18, 2013) to Rs 75.705663, effective June 5, 2013. This revision was made on May 31, 2013, and communicated via this circular.

What it means for you

This revision impacts the valuation of deferred payment obligations between India and the erstwhile USSR, affecting banks handling these transactions. AD Category-I banks must ensure accurate conversion rates for related payments and reporting.

What you must do

Update internal systems with the new Rupee value of Rs 75.705663 for the special currency basket effective June 5, 2013.
Inform all relevant constituents, including corporate clients, about the revised rate for deferred payment transactions.
Ensure compliance with FEMA sections 10(4) and 11(1) when processing related payments.

Who it affects

AD Category-I banks, Corporate clients with deferred payment obligations under the protocols

❓ Common questions

Regulatory timeline

Stated effective date effective June 5, 2013
Decoded by BankPulse 2026-06-18 15:15 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the new Rupee value of the special currency basket?

The Rupee value has been revised to Rs 75.705663, effective from June 5, 2013.

Which previous value does this replace?

It replaces the earlier value of Rs 73.141761, which was effective from March 18, 2013.

Who needs to act on this circular?

All AD Category-I banks must update their systems and notify their constituents about the revised rate.

📜 Read the original circular — full text as issued by RBI

RBI/2012-13/537
 A.P. (DIR Series) Circular No. 112
 June 20, 2013
 To
 All Category - I Authorised Dealer Banks
 Madam / Sir,
 Deferred Payment Protocols dated April 30, 1981 and December 23, 1985
 between Government of India and erstwhile USSR
 Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.95 dated April 4, 2013 , wherein the Rupee value of the special currency basket was indicated as Rs.73.141761 effective from March 18, 2013.
 2. AD Category-I banks are advised that a further revision has taken place on May 31, 2013 and accordingly, the Rupee value of the special currency basket has been fixed at Rs.75.705663 with effect from June 05, 2013.
 3. AD Category-I banks may bring the contents of this circular to the notice of their constituents concerned.
 4. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
 Yours faithfully,
 (C.D.Srinivasan)
 Chief General Manager

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/537 · issued 20 Jun 2013. The plain-English explanation above is BankPulse’s own independent summary.

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Who does what — compliance checklist

💻 IT / Systems

Update internal systems with the new Rupee value of Rs 75.705663 for the special currency basket effective June 5, 2013.

📜 Compliance

Inform all relevant constituents, including corporate clients, about the revised rate for deferred payment transactions.
Ensure compliance with FEMA sections 10(4) and 11(1) when processing related payments.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (AD Category-I banks, Corporate clients with deferred payment obligations under the protocols), your first concrete step on “Rupee Value of Special Currency Basket Revised to Rs 75.705663” is: “Update internal systems with the new Rupee value of Rs 75.705663 for the special currency basket effective June 5, 2013.” (RBI issued this 20 Jun 2013).

Circular: RBI/2012-13/537 -- Rupee Value of Special Currency Basket Revised to Rs 75.705663
Issued: 20 Jun 2013
Action required: Update internal systems with the new Rupee value of Rs 75.705663 for the special currency basket effective June 5, 2013.
Action required: Inform all relevant constituents, including corporate clients, about the revised rate for deferred payment transactions.
Action required: Ensure compliance with FEMA sections 10(4) and 11(1) when processing related payments.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________

Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8046&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.