Exchange rate Notification No.113/2020-Cus (NT) dated 17.12.2020 - Reg

Last updated: 18 December 2020

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This notification from the Central Board of Indirect Taxes and Customs sets out the official exchange rates for converting foreign currencies into Indian Rupees, and vice versa. These rates are effective from 18th December 2020 and apply to both imported and exported goods. The notification supersedes the previous exchange rate notification dated 3rd December 2020.

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

Notification No. 113/2020 – Customs (N.T.)

New Delhi, dated the 17th December, 2020
26 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. 110/2020-Customs(N.T.), dated 3rd 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 18th 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	57.05	54.70
2.	Bahraini Dinar	201.70	188.95
3.	Canadian Dollar	58.90	56.80
4.	Chinese Yuan	11.45	11.10
5.	Danish Kroner	12.30	11.85
6.	EURO	91.50	88.25
7.	Hong Kong Dollar	9.65	9.30
8.	Kuwaiti Dinar	249.60	233.70
9.	New Zealand Dollar	53.85	51.50
10.	Norwegian Kroner	8.65	8.35
11.	Pound Sterling	101.25	97.85
12.	Qatari Riyal	20.85	19.60
13.	Saudi Arabian Riyal	20.25	19.00
14.	Singapore Dollar	56.40	54.50
15.	South African Rand	5.15	4.80
16.	Swedish Kroner	9.00	8.65
17.	Swiss Franc	84.90	81.45
18.	Turkish Lira	9.75	9.15
19.	UAE Dirham	20.70	19.40
20.	US Dollar	74.45	72.75

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)
	Japanese Yen	72.55	69.85
	Korean Won	6.95	6.55

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

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

FAQ :

This notification establishes the official rates of exchange for converting foreign currencies into Indian currency, and vice versa, for the purpose of customs duties on imported and exported goods.

The exchange rates specified in this notification are effective from 18th December 2020.

The notification covers a range of 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, this notification supersedes the previous Notification No. 110/2020-Customs(N.T.), dated 3rd December 2020, except for actions taken before this new notification.

Yes, the notification provides separate rates of exchange for imported goods and exported goods for each currency listed.

Notification No : 113/2020 – Customs (N.T.)
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-nt2020/csnt113-2020.pdf;jsessionid=B777D34ABC883D71BE72CEA3D6213640

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