The Government of India, Ministry of Finance, Department of Revenue, through the Central Board of Indirect Taxes and Customs, has issued Notification No. 01/2024 – Customs (N.T.) dated 4th January 2024. This notification, empowered by the Customs Act, 1962, supersedes the previous one and establishes updated exchange rates for various foreign currencies against the Indian rupee. Effective from 5th January 2024, these rates play a crucial role in determining the conversion values for both imported and exported goods.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
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Notification No. 01/2024 – Customs (N.T.) | Dated: 4th January, 2024
14 Pausha 1945 (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. 93/2023-Customs(N.T.), dated 21st December, 2023 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 5th January, 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 | 57.45 | 55.00 |
| 2. | Bahraini Dinar | 229.75 | 213.05 |
| 3. | Canadian Dollar | 63.50 | 61.50 |
| 4. | Chinese Yuan | 11.85 | 11.45 |
| 5. | Danish Kroner | 12.40 | 12.05 |
| 6. | EURO | 92.70 | 89.55 |
| 7. | Hong Kong Dollar | 10.80 | 10.55 |
| 8. | Kuwaiti Dinar | 279.95 | 262.55 |
| 9. | New Zealand Dollar | 53.40 | 51.05 |
| 10. | Norwegian Kroner | 8.15 | 7.95 |
| 11. | Pound Sterling | 107.35 | 103.90 |
| 12. | Qatari Riyal | 23.60 | 22.20 |
| 13. | Saudi Arabian Riyal | 22.95 | 21.55 |
| 14. | Singapore Dollar | 63.75 | 61.75 |
| 15. | South African Rand | 4.60 | 4.30 |
| 16. | Swedish Kroner | 8.20 | 8.00 |
| 17. | Swiss Franc | 100.15 | 96.35 |
| 18. | Turkish Lira | 2.90 | 2.70 |
| 19. | UAE Dirham | 23.40 | 22.00 |
| 20. | US Dollar | 84.25 | 82.50 |
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 | 59.10 | 57.25 |
| 2. | Korean Won | 6.55 | 6.20 |
[F.No. 468/01/2024-Cus.V]
(Megha Bansal)
Under Secretary to the Govt. of India
