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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 No.45/2019-CUSTOMS (N.T.), dated 20th June, 2019 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 5th July, 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 | 49.60 | 47.45 |
2. | Bahraini Dinar | 188.75 | 176.95 |
3. | Canadian Dollar | 53.75 | 51.75 |
4. | Chinese Yuan | 10.20 | 9.85 |
5. | Danish Kroner | 10.60 | 10.25 |
6. | EURO | 79.25 | 76.30 |
7. | Hong Kong Dollar | 9.00 | 8.70 |
8. | Kuwaiti Dinar | 234.30 | 219.55 |
9. | New Zealand Dollar | 47.45 | 45.30 |
10. | Norwegian Kroner | 8.20 | 7.95 |
11. | Pound Sterling | 88.30 | 85.10 |
12. | Qatari Riyal | 19.55 | 18.30 |
13. | Saudi Arabian Riyal | 19.00 | 17.80 |
14. | Singapore Dollar | 51.75 | 49.95 |
15. | South African Rand | 5.05 | 4.75 |
16. | Swedish Kroner | 7.55 | 7.25 |
17. | Swiss Franc | 71.25 | 68.45 |
18. | Turkish Lira | 12.65 | 11.85 |
19. | UAE Dirham | 19.40 | 18.15 |
20. | US Dollar | 69.75 | 68.05 |
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 | 65.20 | 62.70 |
2. | Korean Won | 6.05 | 5.70 |
Exchange rate determination for foreign currencies governs valuation of imported and exported goods under customs law by notification. Determination of exchange rates under Section 14 of the Customs Act, 1962 prescribes specific rupee equivalents for listed foreign currencies for valuation of imported and exported goods, using separate rates for imports and exports as set out in Schedule I and per 100 unit rates in Schedule II; the notification supersedes an earlier Board notification and takes effect from the stated effective date.
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