Exchange rate Notification No.110/2020-Cus (NT) dated 03.12.2020

Last updated: 04 December 2020

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This notification from the Central Board of Indirect Taxes and Customs (CBIC) announces new official exchange rates for foreign currencies against the Indian Rupee. These rates are effective from 4th December 2020 and apply to both imported and exported goods. The notification supersedes the previous exchange rate notification dated 19th November 2020.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
*****

Notification No. 110/2020–Customs (N.T.)

New Delhi, dated the 3^rd December, 2020
12 Agrahayana 1942 (SAKA)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 108/2020-Customs (N.T.), dated 19^th November, 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 4^th December, 2020, 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	55.90	53.55
2.	Bahraini Dinar	202.15	189.75
3.	Canadian Dollar	58.15	56.10
4.	Chinese Yuan	11.45	11.10
5.	Danish Kroner	12.25	11.80
6.	EURO	91.10	87.90
7.	Hong Kong Dollar	9.70	9.35
8.	Kuwaiti Dinar	250.50	234.85
9.	New Zealand Dollar	53.50	51.20
10.	Norwegian Kroner	8.55	8.25
11.	Pound Sterling	100.55	97.15
12.	Qatari Riyal	20.95	19.65
13.	Saudi Arabian Riyal	20.30	19.10
14.	Singapore Dollar	56.15	54.25
15.	South African Rand	5.00	4.65
16.	Swedish Kroner	8.90	8.55
17.	Swiss Franc	84.25	80.95
18.	Turkish Lira	9.70	9.10
19.	UAE Dirham	20.75	19.50
20.	US Dollar	74.70	73.00

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 Export Goods)
1.	Japanese Yen	72.05	69.35
0.	Korean Won	6.95	6.50

[F.No. 468/01/2020-Cus.V]

(Bullo Mamu)
Under Secretary to the Govt. of India

FAQ :

This notification determines the official rates of exchange for converting foreign currencies into Indian currency and vice versa for customs purposes, relating to imported and exported goods.

The new exchange rates are effective from 4th December 2020.

The notification covers a range of foreign currencies including Australian Dollar, Bahraini Dinar, Canadian Dollar, Chinese Yuan, Danish Kroner, EURO, Hong Kong Dollar, Kuwaiti Dinar, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Qatari Riyal, Saudi Arabian Riyal, Singapore Dollar, South African Rand, Swedish Kroner, Swiss Franc, Turkish Lira, UAE Dirham, US Dollar, Japanese Yen, and Korean Won.

Yes, the notification specifies different rates for imported goods and exported goods for each foreign currency.

Yes, this notification supersedes the previous Notification No. 108/2020-Customs (N.T.), dated 19th November 2020, except for things done or omitted before the supersession.