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(CBEC) No. 35/2018-CUSTOMS (N.T.), dated 3rd May, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes 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 18th May, 2018, 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 | 52.15 | 50.40 |
2. | Bahrain Dinar | 185.60 | 173.70 |
3. | Canadian Dollar | 54.05 | 52.30 |
4. | Chinese Yuan | 10.85 | 10. 50 |
5. | Danish Kroner | 10.95 | 10.55 |
6. | EURO | 81.50 | 78.85 |
7. | Hong Kong Dollar | 8.75 | 8.50 |
8. | Kuwait Dinar | 232.15 | 217.20 |
9. | New Zealand Dollar | 47.90 | 46.05 |
10. | Norwegian Kroner | 8.55 | 8.25 |
11. | Pound Sterling | 93.35 | 90.40 |
12. | Qatari Riyal | 19.25 | 18.00 |
13. | Saudi Arabian Riyal | 18.70 | 17.50 |
14. | Singapore Dollar | 51.40 | 49.85 |
15. | South African Rand | 5.65 | 5.25 |
16. | Swedish Kroner | 7.95 | 7.65 |
17. | Swiss Franc | 69.00 | 66.80 |
18. | UAE Dirham | 19.05 | 17.85 |
19. | US Dollar | 68.65 | 66.95 |
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 | 62.55 | 60.50 |
2. | Kenyan Shilling | 64. 90 | 60.65 |
Exchange rate determination for import and export transactions established, with per-unit and per-hundred-unit schedules effective from notified date. Determination of exchange rates under the Customs Act authority establishes conversion rates of specified foreign currencies into Indian rupees for import and export goods, superseding the prior notification. The instrument prescribes Schedule I (rates per one unit) and Schedule II (rates per one hundred units), each with separate import and export columns, and fixes the applicable rate for each listed currency to be used for customs valuation and related statutory purposes from the notified effective date.
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