Exchange Rate Notification No. 93/2023-Custom

Last updated: 22 December 2023

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Quick Summary

The Central Board of Indirect Taxes and Customs has issued a new notification, No. 93/2023-Customs, establishing updated exchange rates for foreign currencies against the Indian Rupee. These rates will be effective from 22nd December 2023. This supersedes the previous notification dated 7th December 2023, with the new rates applicable for both imported and exported goods.

MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
Notification No. 93/2023 - Customs (N.T.)

New Delhi, dated the 21st December, 2023
30 Agrahayana 1945 (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. 90/2023-Customs(N.T.), dated 7th December, 2023 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 22nd December, 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.

For full notification please refer to the attachment

FAQ :

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

The new exchange rates specified in Notification No. 93/2023-Customs are effective from 22nd December 2023.

Yes, this notification supersedes Notification No. 90/2023-Customs(N.T.), dated 7th December 2023, except for actions taken before the supersession.

The notification has been issued by the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance, Department of Revenue.

The new exchange rates are applicable for both imported and export goods.