On May 16, 2024, the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance, Government of India, issued Notification No. 36/2024 – Customs (N.T.). This notification specifies the updated rates of exchange for various foreign currencies into Indian Rupees, effective from May 17, 2024. These rates are crucial for determining the value of imported and exported goods and ensuring accurate taxation under the Customs Act, 1962.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
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Notification No. 36/2024 – Customs (N.T.) | Dated : 16th May, 2024
New Delhi, dated the 16th May, 2024
26 Vaisakha 1946 (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. 34/2024-Customs(N.T.), dated 2nd 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 17th May, 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 | 57.10 | 54.70 |
| 2. | Bahraini Dinar | 230.05 | 213.35 |
| 3. | Canadian Dollar | 62.40 | 60.40 |
| 4. | Chinese Yuan | 11.80 | 11.35 |
| 5. | Danish Kroner | 12.35 | 12.00 |
| 6. | EURO | 92.50 | 89.35 |
| 7. | Hong Kong Dollar | 10.85 | 10.55 |
| 8. | Kuwaiti Dinar | 280.70 | 263.25 |
| 9. | New Zealand Dollar | 52.35 | 50.05 |
| 10. | Norwegian Kroner | 7.95 | 7.75 |
| 11. | Pound Sterling | 107.70 | 104.25 |
| 12. | Qatari Riyal | 23.65 | 22.25 |
| 13. | Saudi Arabian Riyal | 22.65 | 21.70 |
| 14. | Singapore Dollar | 63.20 | 61.20 |
| 15. | South African Rand | 4.70 | 4.45 |
| 16. | Swedish Kroner | 7.95 | 7.75 |
| 17. | Swiss Franc | 94.55 | 91.05 |
| 18. | Turkish Lira | 2.65 | 2.50 |
| 19. | UAE Dirham | 23.45 | 22.05 |
| 20. | US Dollar | 84.35 | 82.65 |
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 | 55.05 | 53.4 |
| 2. | Korean Won | 6.40 | 6.00 |
[F.No. 468/01/2024-Cus.V]
(Megha Bansal)
Under Secretary to the Govt. of India
