Exchange rates Notification No.31/2021-Cus (NT) dated18.03.2021

Last updated: 22 March 2021

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This notification from the Central Board of Indirect Taxes and Customs (CBIC) sets the official exchange rates for foreign currencies against the Indian Rupee. These rates are applicable for both imported and exported goods from 19th March 2021. The notification supersedes previous rates, except for transactions completed before this date.

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

Notification No. 31/2021 – Customs (N.T.)

New Delhi, dated the 18^th March, 2021
27 Phalguna 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. 26/2021-Customs(N.T.), dated 4^th March, 2021 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 19^th March, 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	57.95	55.60
2.	Bahraini Dinar	198.70	186.00
3.	Canadian Dollar	59.50	57.35
4.	Chinese Yuan	11.35	11.00
5.	Danish Kroner	11.90	11.45
6.	EURO	88.25	85.10
7.	Hong Kong Dollar	9.50	9.15
8.	Kuwaiti Dinar	248.35	232.45
9.	New Zealand Dollar	53.85	51.50
10.	Norwegian Kroner	8.75	8.45
11.	Pound Sterling	102.80	99.35
12.	Qatari Riyal	20.55	19.30
13.	Saudi Arabian Riyal	19.95	18.70
14.	Singapore Dollar	54.95	53.10
15.	South African Rand	5.10	4.80
16.	Swedish Kroner	8.70	8.40
17.	Swiss Franc	80.05	76.95
18.	Turkish Lira	9.95	9.35
19.	UAE Dirham	20.35	19.10
20.	US Dollar	73.35	71.60

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	67.80	65.30
0.	Korean Won	6.65	6.25

[F.No. 468/01/2021-Cus.V]

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

FAQ :

This notification establishes the official exchange rates for converting foreign currencies into Indian currency and vice versa for customs purposes, specifically for imported and exported goods.

The new exchange rates are effective from 19th March 2021.

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 provides separate rates for both imported goods and exported goods.

Yes, this notification supersedes the previous Notification No. 26/2021-Customs(N.T.), dated 4th March 2021, except for things done or omitted before the supersession.

Guest

Notification No : 31/2021 – Customs (N.T.)
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt31-2021.pdf

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