CBIC releases updated rate of exchange of conversion w.e.f 8th January 2021

CBIC releases updated rate of exchange of conversion w.e.f 8th January 2021

Introduction

Tariff Notification No.03/2021 – Customs (N.T.)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.113/2020-Customs(N.T.), dated 17th December, 2020 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that 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 8th January, 2021, 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-I

Sl.No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)	(2)	(3)

		(a)	(b)
		(For Imported Goods)	(For Exported Goods)
1.	Australian Dollar	58.30	55.90
2.	Bahraini Dinar	200.35	188.05
3.	Canadian Dollar	58.75	56.70
4.	Chinese Yuan	11.50	11.15
5.	Danish Kroner	12.35	11.90
6.	EURO	91.80	88.60
7.	Hong Kong Dollar	9.60	9.25
8.	Kuwaiti Dinar	249.20	233.60
9.	New Zealand Dollar	54.75	52.35
10.	Norwegian Kroner	8.85	8.55
11.	Pound Sterling	101.20	97.80
12.	Qatari Riyal	20.75	19.45
13.	Saudi Arabian Riyal	20.15	18.90
14.	Singapore Dollar	56.45	54.55
15.	South African Rand	5.00	4.70
16.	Swedish Kroner	9.15	8.80
17.	Swiss Franc	85.00	81.50
18.	Turkish Lira	10.30	9.70
19.	UAE Dirham	20.55	19.30
20.	US Dollar	74.00	72.30

SCHEDULE-II

Sl.No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)	(2)	(3)

		(a)	(b)
		(For Imported Goods)	(For Exported Goods)
1.	Japanese Yen	72.30	69.60
2.	Korean Won	6.95	6.50

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