CBIC notifies Foreign Currency Conversion Rates for Import and Export of Goods effective from Today [Read Notification]

The Central Board of Indirect Taxes and Customs ( CBIC ) has notified the redetermined rates of exchange of conversion of foreign currencies for import and export of goods effective from today (17-03-2023).

The gazette notification read as follows: –

“In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 12/2023-Customs(N.T.), dated 2nd March, 2023 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 17th March, 2023, 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.”

Sl. No.	Foreign Currency	Rate of exchange of 1 unit of foreign currency equivalent to Indian rupees (For Imported Goods)	Rate of exchange of 1 unit of foreign currency equivalent to Indian rupees(For Export Goods)
1.	Australian Dollar	56.15	53.70
2.	Bahraini Dinar	226.55	213.10
3.	Canadian Dollar	61.20	59.25
4.	Chinese Yuan	12.15	11.80
5.	Danish Kroner	12.00	11.60
6.	EURO	89.35	86.20
7.	Hong Kong Dollar	10.75	10.35
8.	Kuwaiti Dinar	278.35	261.75
9.	New Zealand Dollar	52.35	50.05
10.	Norwegian Kroner	7.85	7.60
11.	Pound Sterling	101.70	98.30
12.	Qatari Riyal	23.45	21.95
13.	Saudi Arabian Riyal	22.75	21.40
14.	Singapore Dollar	62.30	60.30
15.	South African Rand	4.65	4.35
16.	Swedish Kroner	7.95	7.70
17.	Swiss Franc	90.70	87.30
18.	Turkish Lira	4.50	4.25
19.	UAE Dirham	23.25	21.85
20.	US Dollar	83.70	81.95

Further, the Rate of exchange of 100 units of foreign currency equivalent to Indian rupees of Japanese Yen and Korean Won for import and export are as follows: –

Sl. No.	Foreign Currency	Rate of exchange of 100 unit of foreign currency equivalent to Indian rupees (For Imported Goods)	Rate of exchange of 100 unit of foreign currency equivalent to Indian rupees(For Export Goods)
1.	Japanese Yen	63.40	61.40
2.	Korean Won	6.50	6.10

To Read the full text of the Order CLICK HERE

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