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Ministry of Finance
Posted On: 18 OCT 2018 4:53PM by PIB Delhi
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 Indirect Taxes and Customs No.85/2018-CUSTOMS (N.T.), dated 4th October, 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 19th October, 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 Exported Goods) |
1. | Australian Dollar | 53.70 | 51.35 |
2. | Bahrain Dinar | 201.20 | 188.70 |
3. | Canadian Dollar | 57.70 | 55.75 |
4. | Chinese Yuan | 10.75 | 10.45 |
5. | Danish Kroner | 11.60 | 11.15 |
6. | EURO | 86.35 | 83.30 |
7. | Hong Kong Dollar | 9.55 | 9.20 |
8. | Kuwait Dinar | 250.35 | 234.60 |
9. | New Zealand Dollar | 49.60 | 47.35 |
10. | Norwegian Kroner | 9.15 | 8.85 |
11. | Pound Sterling | 98.45 | 95.10 |
12. | Qatari Riyal | 20.85 | 19.55 |
13. | Saudi Arabian Riyal | 20.20 | 18.95 |
14. | Singapore Dollar | 54.35 | 52.50 |
15. | South African Rand | 5. 35 | 5.00 |
16. | Swedish Kroner | 8.40 | 8.10 |
17. | Swiss Franc | 75.60 | 72.60 |
18. | UAE Dirham | 20.65 | 19.35 |
19. | US Dollar | 74.30 | 72.60 |
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 | 66.60 | 64.15 |
*****
DSM/RM/KA
Exchange rate determination for import and export goods sets notified currency conversion rates for customs valuation compliance. Notification prescribes binding exchange rates for conversion between specified foreign currencies and Indian rupees for customs treatment of imported and exported goods, superseding a prior notification and differentiating rates for imports and exports as set out in two annexed schedules; the rates operate from 19th October, 2018 and apply except where actions were completed or omitted prior to supersession. of Press 'Enter' after typing page number.
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