Customs - Exchange Rate Notified
Attribution: Emilian Robert Vicol from Com. Balanesti, Romania, CC BY 2.0 , via Wikimedia Commons

Central Board of Indirect Taxes and Customs (CBITC) has notified the rate of exchange of conversion foreign currencies into Indian currency or vice versa, to be the rate as mentioned below for the purpose relating to imported and export goods. 

This comes into effect from 6th January, 2023.  

SCHEDULE-I  

Sl. No.  Foreign Currency Rate of exchange of one unit of foreign currency equivalent to Indian rupees 
    (For Imported Goods) (For Export Goods) 
1. Australian Dollar 57.75 55.30 
2. Bahraini Dinar 226.55 213.05 
3. Canadian Dollar  62.35 60.30 
4. Chinese Yuan 12.20 11.85 
5. Danish Kroner 12.00 11.60 
6. EURO 89.50 86.30 
7. Hong Kong Dollar 10.80 10.40 
8. Kuwaiti Dinar 278.75 262.10 
9. New Zealand Dollar  53.45 51.05 
10. Norwegian Kroner 8.35 8.05 
11. Pound Sterling 101.45 98.10 
12. Qatari Riyal 23.30 21.90 
13. Saudi Arabian Riyal 22.70 21.35 
14. Singapore Dollar 62.75 60.7 
15. South African Rand 5.05 4.75 
16. Swedish Kroner 8.00 7.75 
17. Swiss Franc 90.80 87.40 
18. Turkish Lira 4.55 4.30 
19. UAE Dirham 23.25 21.85 
20. US Dollar 83.70 81.95 

SCHEDULE-II  

Sl. No.  Foreign Currency Rate of exchange of 100 units of foreign currency equivalent to Indian rupees 
    (For Imported Goods) (For Export Goods) 
1. Japanese Yen 63.70 61.65 
2. Korean Won 6.70 6.30 

The custom exchange rate is used in filing the shipping bill and bill of entry. The exchange rate is the value of one country’s currency in relation to author currency. The exchange rate has an effect on the trade surplus or deficit, which in turn affects the exchange rate. 

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