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In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.105/2013-CUSTOMS (N.T.), dated the 17th October, 2013 vide number S.O.3119 (E), dated the 17th October, 2013, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 8th November, 2013 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
SCHEDULE-I
S. No. | Foreign Currency | Rate of exchange of one unit of foreign Currency equivalent to Indian rupees | ||
(1) | (2) | (3) | ||
|
| (a) | (b) | |
|
| (For Imported Goods) | (For Export Goods) | |
1. | Australian Dollar | 60.10 | 58.55 | |
2. | Bahrain Dinar | 170.85 | 161.50 | |
3. | Canadian Dollar | 60.85 | 59.30 | |
4. | Danish Kroner | 11.55 | 11.15 | |
5. | EURO | 85.70 | 83.70 | |
6. | Hong Kong Dollar | 8.15 | 8.00 | |
7. | Kuwait Dinar | 227.85 | 214.65 | |
8. | New Zealand Dollar | 53.00 | 51.70 | |
9. | Norwegian Kroner | 10.65 | 10.35 | |
10. | Pound Sterling | 101.80 | 99.55 | |
11. | Singapore Dollar | 51.00 | 49.80 | |
12. | South African Rand | 6.30 | 5.90 | |
13. | Saudi Arabian Riyal | 17.15 | 16.25 | |
14. | Swedish Kroner | 9.80 | 9.50 | |
15. | Swiss Franc | 69.55 | 67.90 | |
16. | UAE Dirham | 17.55 | 16.60 | |
17. | US Dollar | 63.10 | 62.10 | |
SCHEDULE-II
S. No. | Foreign Currency | Rate of exchange of 100 units of foreign Currency equivalent to Indian rupees | |
(1) | (2) | (3) | |
|
| (a) | (b) |
|
| (For Imported Goods) | (For Export Goods) |
1. | Japanese Yen | 64.30 | 62.75 |
2. | Kenya Shilling | 75.65 | 71.10 |
Exchange Rate Determination sets distinct import and export currency rates for valuation of goods under the customs regime. Exchange Rate Determination prescribes distinct conversion rates for specified foreign currencies into Indian rupees for valuation of imported and export goods, superseding an earlier notification and taking effect from 8th November, 2013. The instrument attaches Schedule I, which records per unit rates for multiple currencies with separate import and export columns, and Schedule II, which records rates per 100 units for particular currencies, to be applied in customs valuation and compliance.
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