Notification No. 40/2024 – Customs (N.T.) dated 6th June 2024 supersedes the previous Notification No. 36/2024-Customs(N.T.) and sets forth the exchange rates for various foreign currencies against the Indian rupee, effective from 7th June 2024. These rates impact both import and export transactions.
Schedule I outlines the exchange rates of individual foreign currencies against the Indian rupee. Notably, currencies like the US Dollar, EURO, Pound Sterling, and others have specific conversion rates for imported and export goods. This differentiation reflects the varying economic considerations for imports and exports.
Schedule II presents exchange rates for specific quantities of foreign currencies, such as 100 units, against the Indian rupee. This section provides detailed insights into conversions for larger quantities, catering to bulk transactions common in international trade.
******
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
*****
Notification No. 40/2024 – Customs (N.T.) | Dated: 6th June, 2024
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 36/2024-Customs(N.T.), dated 16th May, 2024 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 7th June, 2024, 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 Export Goods) | ||
| 1. | Australian Dollar | 56.85 | 54.40 |
| 2. | Bahraini Dinar | 230.00 | 213.30 |
| 3. | Canadian Dollar | 62.00 | 60.05 |
| 4. | Chinese Yuan | 11.70 | 11.30 |
| 5. | Danish Kroner | 12.35 | 12.00 |
| 6. | EURO | 92.45 | 89.30 |
| 7. | Hong Kong Dollar | 10.85 | 10.55 |
| 8. | Kuwaiti Dinar | 281.30 | 263.80 |
| 9. | New Zealand Dollar | 52.95 | 50.60 |
| 10. | Norwegian Kroner | 8.00 | 7.80 |
| 11. | Pound Sterling | 108.55 | 105.10 |
| 12. | Qatari Riyal | 24.55 | 21.40 |
| 13. | Saudi Arabian Riyal | 22.65 | 21.65 |
| 14. | Singapore Dollar | 63.00 | 61.00 |
| 15. | South African Rand | 4.55 | 4.30 |
| 16. | Swedish Kroner | 8.15 | 7.95 |
| 17. | Swiss Franc | 95.45 | 91.90 |
| 18. | Turkish Lira | 2.65 | 2.50 |
| 19. | UAE Dirham | 23.45 | 22.05 |
| 20. | US Dollar | 84.30 | 82.60 |
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 | 54.45 | 52.80 |
| 2. | Korean Won | 6.30 | 5.95 |
[F. No. 468/01/2024-Cus.V]
(Komila Punia)
Deputy Secretary to the Govt. of India
