In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.52/2017-CUSTOMS (N.T.), dated 1st June, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 16th June, 2017, 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
Sl.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 | 49.85 | 48.10 |
2. | Bahrain Dinar | 176.60 | 164.65 |
3. | Canadian Dollar | 49.35 | 47.75 |
4. | Chinese Yuan | 9.65 | 9.30 |
5. | Danish Kroner | 9.90 | 9.50 |
6. | EURO | 73.45 | 70.95 |
7. | Hong Kong Dollar | 8.35 | 8.15 |
8. | Kuwait Dinar | 219.25 | 204.95 |
9. | New Zealand Dollar | 47.25 | 45.55 |
10. | Norwegian Kroner | 7.75 | 7.50 |
11. | Pound Sterling | 83.40 | 80.60 |
12. | Qatari Riyal | 18.10 | 17.05 |
13. | Saudi Arabian Riyal | 17.75 | 16.60 |
14. | Singapore Dollar | 47.50 | 45.90 |
15. | South African Rand | 5.25 | 4.90 |
16. | Swedish Kroner | 7.50 | 7.25 |
17. | Swiss Franc | 67.35 | 65.10 |
18. | UAE Dirham | 18.10 | 16.95 |
19. | US Dollar | 65.15 | 63.50 |
SCHEDULE-II
Sl. 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 | 59.75 | 57.70 |
2. | Kenya Shilling | 64.35 | 60.15 |
Exchange rate notification sets prescribed import and export conversion rates for specified foreign currencies effective mid June. Determination of exchange rates under the Customs Act prescribes separate import and export conversion rates for specified foreign currencies in Schedule I (per one unit) and Schedule II (per one hundred units), superseding the earlier notification and taking effect from 16 June 2017 while preserving prior actions and omissions.
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