Exchange Rates Notification No.84/2020-Custom (NT) dated 03.09.2020

Last updated: 07 September 2020

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This notification from the Central Board of Indirect Taxes and Customs sets out the official exchange rates for converting foreign currencies to Indian Rupees, and vice versa. These rates are applicable for both imported and exported goods and are effective from 4th September 2020. This supersedes the previous notification dated 20th August 2020.

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

Notification No. 84/2020 – Customs (N.T.)

New Delhi, dated the 3^rd September, 2020
12 Bhadrapada 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.80/2020-Customs(N.T.), dated 20^th August, 2020 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 4^th September, 2020, 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	54.85	52.50
2.	Bahraini Dinar	200.60	188.25
3.	Canadian Dollar	57.10	55.05
4.	Chinese Yuan	10.90	10.55
5.	Danish Kroner	11.85	11.40
6.	EURO	88.20	85.05
7.	Hong Kong Dollar	9.60	9.25
8.	Kuwaiti Dinar	247.65	232.00
9.	New Zealand Dollar	50.85	48.55
0.	Norwegian Kroner	8.40	8.10
1.	Pound Sterling	99.35	95.95
2.	Qatari Riyal	20.75	19.50
3.	Saudi Arabian Riyal	20.15	18.90
4.	Singapore Dollar	54.70	52.85
15.	South African Rand	4.50	4.20
16.	Swedish Kroner	8.55	8.25
17.	Swiss Franc	81.90	78.70
18.	Turkish Lira	10.20	9.60
19.	UAE Dirham	20.60	19.30
20.	US Dollar	74.10	72.40

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	70.25	67.65
0.	Korean Won	6.35	6.00

[F.No. 468/01/2020-Cus.V]

(Radhakrishnan Ananth)
Deputy 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 customs valuation of imported and exported goods.

The new exchange rates are effective from 4th September 2020.

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.

For imported goods, 100 Japanese Yen is equivalent to 70.25 Indian Rupees, and 100 Korean Won is equivalent to 6.35 Indian Rupees. For exported goods, 100 Japanese Yen is equivalent to 67.65 Indian Rupees, and 100 Korean Won is equivalent to 6.00 Indian Rupees.

Yes, this notification supersedes Notification No.80/2020-Customs(N.T.), dated 20th August 2020, except for things done or omitted before the supersession.