Exchange rates Notification No.74/2021-Cus (NT) dated 16.9.2021

Last updated: 20 September 2021

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This notification from the Central Board of Indirect Taxes and Customs sets the official exchange rates for converting foreign currencies into Indian Rupees, and vice versa. These rates are applicable for both imported and exported goods starting from 17th September 2021. The notification supersedes a previous one dated 2nd September 2021 and provides specific rates for various currencies listed in two schedules.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
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Notification No.74/2021 – Customs (N.T.)

New Delhi, dated the 16^th September, 2021
25 Bhadra 1943 (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.71/2021-Customs(N.T.), dated 2^nd September, 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 17^th 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	55.10	52.75
2.	Bahraini Dinar	201.40	189.00
3.	Canadian Dollar	59.25	57.15
4.	Chinese Yuan	11.60	11.25
5.	Danish Kroner	11.90	11.45
6.	EURO	88.45	85.30
7.	Hong Kong Dollar	9.60	9.30
8.	Kuwaiti Dinar	252.70	236.90
9.	New Zealand Dollar	53.70	51.30
10.	Norwegian Kroner	8.75	8.40
11.	Pound Sterling	103.50	100.00
12.	Qatari Riyal	20.85	19.55
13.	Saudi Arabian Riyal	20.25	19.00
14.	Singapore Dollar	55.75	53.90
15.	South African Rand	5.25	4.95
16.	Swedish Kroner	8.70	8.40
17.	Swiss Franc	81.55	78.35
18.	Turkish Lira	9.00	8.45
19.	UAE Dirham	20.65	19.40
20.	US Dollar	74.40	72.70

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	68.55	66.05
0.	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 determines the official rates of exchange for converting foreign currencies into Indian currency, or vice versa, for the purpose of Section 14 of the Customs Act, 1962, concerning imported and exported goods.

The new exchange rates are effective from 17th September 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, this notification supersedes Notification No. 71/2021-Customs(N.T.), dated 2nd September 2021, except for things done or omitted before the supersession.

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

Guest

Notification No : 74/2021 – Customs (N.T.)
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt74-2021.pdf

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