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


Quick Summary
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 18th 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 4th 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 19th 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.

 

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