The Central Board of Indirect Taxes and Customs (CBIC) Notification No. 68/2023 – Customs (N.T) has updated the exchange rate on 21st August 2023. The rate shall come into effect on 22nd September 2023.
In exercise of the powers conferred by section 14 of the Customs Act, 1962, and in supersession of the Notification No. 64/2023-Customs(N.T.), dated 6th September, 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 22nd September, 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 | 54.55 | 52.20 |
| 2 | Bahraini Dinar | 228.00 | 214.00 |
| 3 | Canadian Dollar | 62.70 | 60.65 |
| 4 | Chinese Yuan | 11.55 | 11.25 |
| 5 | Danish Kroner | 12.05 | 11.65 |
| 6 | EURO | 90.05 | 86.90 |
| 7 | Hong Kong Dollar | 10.80 | 10.45 |
| 8 | Kuwaiti Dinar | 277.65 | 261.10 |
| 9 | New Zealand Dollar | 50.50 | 48.20 |
| 10 | Norwegian Kroner | 7.80 | 7.55 |
| 11 | Pound Sterling | 104.20 | 100.80 |
| 12 | Qatari Riyal | 23.55 | 22.10 |
| 13 | Saudi Arabian Riyal | 22.85 | 21.50 |
| 14 | Singapore Dollar | 61.80 | 59.85 |
| 15 | South African Rand | 4.55 | 4.25 |
| 16 | Swedish Kroner | 7.55 | 7.30 |
| 17 | Swiss Franc | 94.20 | 90.65 |
| 18 | Turkish Lira | 3.15 | 3.00 |
| 19 | UAE Dirham | 23.35 | 21.95 |
| 20 | US Dollar | 84.05 | 82.30 |
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 | 56.95 | 55.20 |
| 2 | Korean Won | 6.40 | 6.00 |
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