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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.48/2019-CUSTOMS (N.T.), dated 4th July, 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 19th 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 | 47.40 |
2. | Bahraini Dinar | 188.70 | 176.65 |
3. | Canadian Dollar | 53.80 | 51.85 |
4. | Chinese Yuan | 10.15 | 9.85 |
5. | Danish Kroner | 10.55 | 10.15 |
6. | EURO | 78.85 | 75.95 |
7. | Hong Kong Dollar | 8.95 | 8.65 |
8. | Kuwaiti Dinar | 233.60 | 218.60 |
9. | New Zealand Dollar | 47.70 | 45.55 |
10. | Norwegian Kroner | 8.15 | 7.85 |
11. | Pound Sterling | 87.20 | 84.10 |
12. | Qatari Riyal | 19.40 | 18.35 |
13. | Saudi Arabian Riyal | 18.95 | 17.75 |
14. | Singapore Dollar | 51.60 | 49.70 |
15. | South African Rand | 5.10 | 4.75 |
16. | Swedish Kroner | 7.50 | 7.20 |
17. | Swiss Franc | 71.25 | 68.45 |
18. | Turkish Lira | 12.50 | 11.70 |
19. | UAE Dirham | 19.35 | 18.15 |
20. | US Dollar | 69.65 | 67.95 |
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 | 65.10 | 62.65 |
2. | Korean Won | 6.05 | 5.65 |
Customs exchange rate determination sets new prescribed currency conversion rates for import and export valuation from July 2019. The Board, exercising the power under Section 14 of the Customs Act, 1962, prescribes specific rupee equivalents for listed foreign currencies to be used for customs valuation, with separate conversion rates for imported and exported goods set out in Schedule I (per unit) and Schedule II (per 100 units). The notification takes effect from 19th July, 2019 and supersedes the prior notification of 4th July, 2019 except as to past actions.
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