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Exchange Rate Notification for foreign currency rates for Imports & Exports w.e.f.06-12-2024

Exchange Rate Notification for foreign currency rates for Imports & Exports w.e.f.06-12-2024

Exchange Rate Notification for foreign currency rates for Imports & Exports w.e.f.06-12-2024

In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of Notification No. 36/2024-Customs(N.T.), dated 16th May, 2024, except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs has determined the rate of exchange for converting foreign currencies into Indian currency (INR) and vice versa.

This notification will be effective from 7th June, 2024 for the purpose of determining the exchange rate for imported and exported goods. The rates specified are as follows:

SCHEDULE-I: Exchange Rates for Foreign Currency (1 unit)

Sl. No.   Foreign Currency    Rate of Exchange (Imported Goods)    Rate of Exchange (Export Goods)
1 Australian Dollar 56.85 54.40
2 Bahraini Dinar 230.00 213.30
3 Canadian Dollar 62.00 60.05
4 Chinese Yuan 11.70 11.30
5 Danish Kroner 12.35 12.00
6 EURO 92.45 89.30
7 Hong Kong Dollar 10.85 10.55
8 Kuwaiti Dinar 281.30 263.80
9 New Zealand Dollar 52.95 50.60
10 Norwegian Kroner 8.00 7.80
11 Pound Sterling 108.55 105.10
12 Qatari Riyal 24.55 21.40
13 Saudi Arabian Riyal 22.65 21.65
14 Singapore Dollar 63.00 61.00
15 South African Rand 4.55 4.30
16 Swedish Kroner 8.15 7.95
17 Swiss Franc 95.45 91.90
18 Turkish Lira 2.65 2.50
19 UAE Dirham 23.45 22.05
20 US Dollar 84.30 82.60

SCHEDULE-II: Exchange Rates for Foreign Currency (100 units)

Sl. No.    Foreign Currency    Rate of Exchange (Imported Goods)    Rate of Exchange (Export Goods)
1 Japanese Yen 54.45 52.80
2 Korean Won 6.30 5.95

This exchange rate determination applies solely to the conversion of foreign currencies for the import and export of goods as per the Customs Act, 1962.

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