Central Board of Indirect Taxes and Customs (CBITC) has notified the rate of exchange of conversion foreign currencies into Indian currency or vice versa, to be the rate as mentioned below for the purpose relating to imported and export goods.
This comes into effect from 6th January, 2023.
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SCHEDULE-I
| Sl. No. | Foreign Currency | Rate of exchange of one unit of foreign currency equivalent to Indian rupees | |
| (For Imported Goods) | (For Export Goods) | ||
| 1. | Australian Dollar | 57.75 | 55.30 |
| 2. | Bahraini Dinar | 226.55 | 213.05 |
| 3. | Canadian Dollar | 62.35 | 60.30 |
| 4. | Chinese Yuan | 12.20 | 11.85 |
| 5. | Danish Kroner | 12.00 | 11.60 |
| 6. | EURO | 89.50 | 86.30 |
| 7. | Hong Kong Dollar | 10.80 | 10.40 |
| 8. | Kuwaiti Dinar | 278.75 | 262.10 |
| 9. | New Zealand Dollar | 53.45 | 51.05 |
| 10. | Norwegian Kroner | 8.35 | 8.05 |
| 11. | Pound Sterling | 101.45 | 98.10 |
| 12. | Qatari Riyal | 23.30 | 21.90 |
| 13. | Saudi Arabian Riyal | 22.70 | 21.35 |
| 14. | Singapore Dollar | 62.75 | 60.7 |
| 15. | South African Rand | 5.05 | 4.75 |
| 16. | Swedish Kroner | 8.00 | 7.75 |
| 17. | Swiss Franc | 90.80 | 87.40 |
| 18. | Turkish Lira | 4.55 | 4.30 |
| 19. | UAE Dirham | 23.25 | 21.85 |
| 20. | US Dollar | 83.70 | 81.95 |
SCHEDULE-II
| Sl. No. | Foreign Currency | Rate of exchange of 100 units of foreign currency equivalent to Indian rupees | |
| (For Imported Goods) | (For Export Goods) | ||
| 1. | Japanese Yen | 63.70 | 61.65 |
| 2. | Korean Won | 6.70 | 6.30 |
The custom exchange rate is used in filing the shipping bill and bill of entry. The exchange rate is the value of one country’s currency in relation to author currency. The exchange rate has an effect on the trade surplus or deficit, which in turn affects the exchange rate.
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