CBIC released Notification No. 44/2023 – Customs on 15th June, 2023. This notification supersedes the previous Notification No. 39/2023-Customs(N.T.) and provides the updated exchange rates for converting foreign currencies into Indian rupees and vice versa for imported and exported goods. The new rates will come into effect from 16th June, 2023.
Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs
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Notification No. 44/2023 – Customs (N.T.) Dated 15th June, 2023
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 39/2023-Customs(N.T.), dated 1st June, 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 16th June, 2023, 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 | 224.90 | 211.50 |
| 3. | Canadian Dollar | 62.65 | 60.55 |
| 4. | Chinese Yuan | 11.60 | 11.30 |
| 5. | Danish Kroner | 12.15 | 11.70 |
| 6. | EURO | 90.50 | 87.30 |
| 7. | Hong Kong Dollar | 10.70 | 10.30 |
| 8. | Kuwaiti Dinar | 276.05 | 259.50 |
| 9. | New Zealand Dollar | 52.10 | 49.75 |
| 10. | Norwegian Kroner | 7.80 | 7.55 |
| 11. | Pound Sterling | 105.65 | 102.15 |
| 12. | Qatari Riyal | 23.30 | 21.85 |
| 13. | Saudi Arabian Riyal | 22.30 | 21.25 |
| 14. | Singapore Dollar | 62.15 | 60.15 |
| 15. | South African Rand | 4.60 | 4.30 |
| 16. | Swedish Kroner | 7.75 | 7.50 |
| 17. | Swiss Franc | 92.80 | 89.30 |
| 18. | Turkish Lira | 3.60 | 3.40 |
| 19. | UAE Dirham | 23.10 | 21.70 |
| 20. | US Dollar | 83.05 | 81.35 |
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 | 59.20 | 57.35 |
| 2. | Korean Won | 6.60 | 6.20 |
[F.No. 468/01/2023-Cus.V]
(Harish Kumar)
Under Secretary to the Govt. of India
