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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 (CBIC) No.40/2019-CUSTOMS (N.T.), dated 6th June, 2019 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs(CBIC) 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 21st June, 2019, 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 | 49.10 | 46.90 |
2. | Bahraini Dinar | 190.50 | 178.60 |
3. | Canadian Dollar | 53.50 | 51.55 |
4. | Chinese Yuan | 10.25 | 9.95 |
5. | Danish Kroner | 10.70 | 10.30 |
6. | EURO | 79.85 | 76.90 |
7. | Hong Kong Dollar | 9.05 | 8.75 |
8. | Kuwaiti Dinar | 236.40 | 221.60 |
9. | New Zealand Dollar | 47.00 | 44.80 |
10. | Norwegian Kroner | 8.15 | 7.90 |
11. | Pound Sterling | 89.80 | 86.60 |
12. | Qatari Riyal | 19.75 | 18.50 |
13. | Saudi Arabian Riyal | 19.15 | 17.95 |
14. | Singapore Dollar | 52.05 | 50.25 |
15. | South African Rand | 5.00 | 4.70 |
16. | Swedish Kroner | 7.50 | 7.25 |
17. | Swiss Franc | 71.65 | 68.85 |
18. | Turkish Lira | 12.40 | 11.60 |
19. | UAE Dirham | 19.55 | 18.35 |
20. | US Dollar | 70.40 | 68.70 |
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 | 65.85 | 63.35 |
2. | Korean Won | 6.15 | 5.75 |
Exchange rate determination for customs sets conversion rates for specified foreign currencies to Indian rupees for imports and exports. The Central Board of Indirect Taxes and Customs determines the Rate of Exchange of specified foreign currencies into Indian rupees for customs purposes, providing separate rates for imported and exported goods, superseding an earlier notification and taking effect from 21st June, 2019; two schedules list per unit and per 100 unit conversion rates for the named currencies.
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