Ministry of Finance notifies Foreign Exchange Rates for Import and Export: Check new Rates [Read Notification]

The Central Board of Indirect Taxes and Customs ( CBIC ), vide notification no. 34/2024 - Customs (N.T.) issued on 2nd May 2024 has updated the foreign currency exchange rate for the import and exchange of goods with effect from 3rd May 2024.

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	55.70	53.30
2	Bahraini Dinar	236.90	208.95
3	Canadian Dollar	61.80	59.85
4	Chinese Yuan	11.75	11.35
5	Danish Kroner	12.15	11.80
6	EURO	91.00	87.90
7	Hong Kong Dollar	10.85	10.55
8	Kuwaiti Dinar	279.75	262.40
9	New Zealand Dollar	50.60	48.30
10	Norwegian Kroner	7.65	7.45
11	Pound Sterling	106.35	102.90
12	Qatari Riyal	23.65	22.25
13	Saudi Arabian Riyal	22.80	21.65
14	Singapore Dollar	62.40	60.40
15	South African Rand	4.65	4.35
16	Swedish Kroner	7.75	7.55
17	Swiss Franc	92.75	89.35
18	Turkish Lira	2.65	2.50
19	UAE Dirham	23.45	22.05
20	US Dollar	84.35	82.60

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	54.30	52.70
2	Korean Won	6.25	5.90

To Read the full text of the Order CLICK HERE

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