In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 30/2024-Customs(N.T.), dated 18th April, 2024 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 3rd May, 2024, 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 Export Goods) |
1. | Australian Dollar | 55.70 | 53.30 |
2. | Bahraini Dinar | 236.90 | 208.95 |
3. | Canadian Dollar | 61.80 | 59.85 |
4. | Chinese Yuan | 11.75 | 11.35 |
5. | Danish Kroner | 12.15 | 11.80 |
6. | EURO | 91.00 | 87.90 |
7. | Hong Kong Dollar | 10.85 | 10.55 |
8. | Kuwaiti Dinar | 279.75 | 262.40 |
9. | New Zealand Dollar | 50.60 | 48.30 |
10. | Norwegian Kroner | 7.65 | 7.45 |
11. | Pound Sterling | 106.35 | 102.90 |
12. | Qatari Riyal | 23.65 | 22.25 |
13. | Saudi Arabian Riyal | 22.80 | 21.65 |
14. | Singapore Dollar | 62.40 | 60.40 |
15. | South African Rand | 4.65 | 4.35 |
16. | Swedish Kroner | 7.75 | 7.55 |
17. | Swiss Franc | 92.75 | 89.35 |
18. | Turkish Lira | 2.65 | 2.50 |
19. | UAE Dirham | 23.45 | 22.05 |
20. | US Dollar | 84.35 | 82.60 |
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 | 54.30 | 52.70 |
2. | Korean Won | 6.25 | 5.90 |
Customs exchange rate update sets conversion rates for foreign currencies for import and export valuation. Determination under
section 14 of the Customs Act, 1962 prescribes revised
rate of exchange entries for specified foreign currencies in two schedules-per unit rates for major currencies and per 100 unit rates where customary-for use in conversion between foreign currencies and Indian rupees for customs valuation of imported and exported goods, effective from the notified operative date and superseding the prior notification except as to prior actions.
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