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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 No. 70/2022-Customs(N.T.), dated 18th August, 2022 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 2nd September, 2022, 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 | |
(2) | (3) | ||
| (a) | (b) | |
| (For Imported Goods) | (For Export Goods) | |
1. | Australian Dollar | 55.45 | 53.10 |
2. | Bahraini Dinar | 217.70 | 204.65 |
3. | Canadian Dollar | 61.50 | 59.45 |
4. | Chinese Yuan | 11.70 | 11.35 |
5. | Danish Kroner | 10.90 | 10.55 |
6. | EURO | 81.25 | 78.25 |
7. | Hong Kong Dollar | 10.30 | 9.95 |
8. | Kuwaiti Dinar | 266.40 | 250.20 |
9. | New Zealand Dollar | 49.85 | 47.55 |
10. | Norwegian Kroner | 8.10 | 7.85 |
11. | Pound Sterling | 93.80 | 90.60 |
12. | Qatari Riyal | 22.30 | 20.95 |
13. | Saudi Arabian Riyal | 21.85 | 20.50 |
14. | Singapore Dollar | 57.75 | 55.90 |
15. | South African Rand | 4.80 | 4.50 |
16. | Swedish Kroner | 7.55 | 7.30 |
17. | Swiss Franc | 82.75 | 79.70 |
18. | Turkish Lira | 4.50 | 4.25 |
19. | UAE Dirham | 22.35 | 21.00 |
20. | US Dollar | 80.45 | 78.70 |
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 | 57.95 | 56.10 |
2. | Korean Won | 6.05 | 5.70 |
Exchange rate determination: new customs conversion rates set for imported and export goods under Customs Act. The Central Board of Indirect Taxes and Customs, under statutory authority, fixes conversion rates of specified foreign currencies into Indian rupees for use in the valuation of imported and export goods. The Notification supersedes the prior notification except as to past actions and implements new operative rates set out in two schedules-one showing per unit rupee equivalents with separate columns for import and export, and another showing rupee equivalents per one hundred units-establishing distinct rates for import and export valuation.
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