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of <h1>New Guidelines for Monitoring Export Obligations Under EPCG Scheme: Exchange Rates Clarified for Compliance Review.</h1> The circular issued by the Directorate General of Foreign Trade addresses the monitoring of export obligations under the EPCG scheme. It clarifies the practice of using exchange rates for determining if an EPCG holder has met their export obligations. The export obligation will be calculated in US dollars at the exchange rate on the date the EPCG license is issued, unless all imports and exports are conducted in a single foreign currency. Licensing authorities must note the exchange rate on the license. Existing licenses will be reviewed under these guidelines to ensure compliance.
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