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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.66/2019-CUSTOMS (N.T.), dated 19th September, 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 4th October, 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 | 49.00 | 46.85 |
2. | Bahraini Dinar | 195.25 | 183.20 |
3. | Canadian Dollar | 54.45 | 52.55 |
4. | Chinese Yuan | 10.15 | 9.80 |
5. | Danish Kroner | 10.65 | 10.25 |
6. | EURO | 79.55 | 76.65 |
7. | Hong Kong Dollar | 9.25 | 8.90 |
8. | Kuwaiti Dinar | 242.40 | 227.35 |
9. | New Zealand Dollar | 45.90 | 43.80 |
10. | Norwegian Kroner | 7.95 | 7.65 |
11. | Pound Sterling | 89.30 | 86.15 |
12. | Qatari Riyal | 20.20 | 18.95 |
13. | Saudi Arabian Riyal | 19.65 | 18.40 |
14. | Singapore Dollar | 52.45 | 50.65 |
15. | South African Rand | 4.80 | 4.50 |
16. | Swedish Kroner | 7.35 | 7.10 |
17. | Swiss Franc | 72.85 | 70.05 |
18. | Turkish Lira | 12.90 | 12.10 |
19. | UAE Dirham | 20.05 | 18.80 |
20. | US Dollar | 72.15 | 70.45 |
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 | 67.80 | 65.25 |
2. | Korean Won | 6.10 | 5.75 |
Exchange rate determination fixes conversion rates for listed foreign currencies for import and export under Customs Act. Determination of statutory exchange rates fixes specific conversion rates to Indian rupees for listed foreign currencies, specifying separate import and export rates in two annexed schedules (per unit rates in Schedule I and bulk unit rates in Schedule II), superseding the prior notification and operating from the stated effective date for customs valuation purposes.
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