Exchange rates Notification No.71/2021-Cus (NT) dated 02.09.2021

Last updated: 04 September 2021

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This notification from the Central Board of Indirect Taxes and Customs (CBIC) establishes the official exchange rates for foreign currencies against the Indian Rupee. These rates are effective from 3rd September 2021 and apply to both imported and exported goods. The notification supersedes the previous one dated 19th August 2021, with the new rates detailed in two schedules.

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

Notification No. 71/2021 – Customs (N.T.)

Dated: 2nd September, 2021

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.68/2021-Customs(N.T.), dated 19^th August, 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 3^rd September, 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	55.05	52.75
2.	Bahraini Dinar	200.15	187.80
3.	Canadian Dollar	58.95	56.85
4.	Chinese Yuan	11.50	11.15
5.	Danish Kroner	11.85	11.40
6.	EURO	88.10	84.95
7.	Hong Kong Dollar	9.55	9.20
8.	Kuwaiti Dinar	251.25	235.20
9.	New Zealand Dollar	53.00	50.65
10.	Norwegian Kroner	8.55	8.25
11.	Pound Sterling	102.40	98.95
12.	Qatari Riyal	20.55	19.20
13.	Saudi Arabian Riyal	20.10	18.90
14.	Singapore Dollar	55.30	53.40
15.	South African Rand	5.25	4.90
16.	Swedish Kroner	8.65	8.35
17.	Swiss Franc	81.45	78.25
18.	Turkish Lira	9.10	8.50
19.	UAE Dirham	20.55	19.30
20.	US Dollar	73.95	72.25

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	67.70	65.20
2.	Korean Won	6.50	6.10

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

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

FAQ :

This notification sets 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 3rd September 2021.

Schedule I covers currencies such as 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, and US Dollar.

Schedule II lists the Japanese Yen and Korean Won.

Yes, this notification supersedes Notification No. 68/2021-Customs(N.T.), dated 19th August 2021, except for actions taken before the supersession.

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

Guest

Notification No : 71/2021 – Customs (N.T.)
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt71-2021.pdf

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