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
*****

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

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