The Central Board of Indirect Taxes and Customs ( CBIC ), vide notification no. 24/2024 – Customs (N.T.) issued on 26th March 2024 has updated the foreign currency exchange rate for the import and exchange of goods with effect from 27th March 2024.
Under the authority granted by section 14 of the Customs Act, 1962, and replacing Notification No. 18/2024-Customs(N.T.), dated 7th March, 2024, the Central Board of Indirect Taxes and Customs declares the exchange rates for foreign currencies listed in Schedule I and Schedule II.
These rates, specified in column (3) against each currency in the respective schedules, apply for the conversion into Indian currency or vice versa. This determination is applicable for the purposes of the said section, concerning the import and export of goods. The supersession does not affect actions taken or omitted before this change.
SCHEDULE 1
| S. 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 | 56.25 | 53.85 |
| 2 | Bahraini Dinar | 229.00 | 212.35 |
| 3 | Canadian Dollar | 62.75 | 60.75 |
| 4 | Chinese Yuan | 11.75 | 11.35 |
| 5 | Danish Kroner | 12.35 | 12.00 |
| 6 | EURO | 92.50 | 89.35 |
| 7 | Hong Kong Dollar | 10.80 | 10.50 |
| 8 | Kuwaiti Dinar | 279.30 | 261.95 |
| 9 | New Zealand Dollar | 51.85 | 49.55 |
| 10 | Norwegian Kroner | 8.00 | 7.80 |
| 11 | Pound Sterling | 108.10 | 104.65 |
| 12 | Qatari Riyal | 23.50 | 22.05 |
| 13 | Saudi Arabian Riyal | 23.55 | 22.15 |
| 14 | Singapore Dollar | 63.20 | 61.20 |
| 15 | South African Rand | 4.60 | 4.30 |
| 16 | Swedish Kroner | 8.15 | 7.90 |
| 17 | Swiss Franc | 95.75 | 92.15 |
| 18 | Turkish Lira | 2.65 | 2.50 |
| 19 | UAE Dirham | 23.35 | 21.95 |
| 20 | US Dollar | 84.00 | 82.25 |
SCHEDULE 2
| S. 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 | Japanese Yen | 56.10 | 54.40 |
| 2 | Korean Won | 6.45 | 6.10 |
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