The Central Board of Indirect Taxes and Customs (CBIC) Notification No. 57/2023 – Customs (N.T) has notified the exchange rate on 3rd August 2023. The rate shall come into effect on 4th August 2023.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 54/2023-Customs(N.T.), dated 20th July, 2023 except as respects things done or omitted to be done before such supersession.
The CBIC has declared 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 4th August, 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.
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 | 55.35 | 52.95 |
| 2 | Bahraini Dinar | 226.40 | 212.90 |
| 3 | Canadian Dollar | 63.05 | 60.95 |
| 4 | Chinese Yuan | 11.65 | 11.35 |
| 5 | Danish Kroner | 12.35 | 11.95 |
| 6 | EURO | 92.10 | 88.90 |
| 7 | Hong Kong Dollar | 10.80 | 10.40 |
| 8 | Kuwaiti Dinar | 277.35 | 260.75 |
| 9 | New Zealand Dollar | 51.65 | 49.30 |
| 10 | Norwegian Kroner | 8.15 | 7.90 |
| 11 | Pound Sterling | 107.00 | 103.45 |
| 12 | Qatari Riyal | 23.45 | 22.00 |
| 13 | Saudi Arabian Riyal | 22.75 | 21.40 |
| 14 | Singapore Dollar | 62.65 | 60.65 |
| 15 | South African Rand | 4.65 | 4.35 |
| 16 | Swedish Kroner | 7.85 | 7.60 |
| 17 | Swiss Franc | 96.10 | 92.40 |
| 18 | Turkish Lira | 3.15 | 3.00 |
| 19 | UAE Dirham | 23.25 | 21.85 |
| 20 | US Dollar | 83.60 | 81.90 |
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 | 58.70 | 56.85 |
| 2 | Korean Won | 6.55 | 6.15 |
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
