The Central Board of Indirect Taxes and Customs (CBIC) on June 20, 2024, notified regarding the suppression of notification no. 40/2024-Customs (N.T.), dated June 06, 2024, and determination of the rate of exchange of conversion of foreign currencies into the Indian Currency.
The following has been stated namely: -
• It states the rate of exchange of conversion of the foreign currencies mentioned in Schedule I and Schedule II into Indian currency shall effect from June 21, 2024, for the purpose relating to imported and exported goods.
• Schedule I states the foreign currency of Australian Dollar, Bahraini Dinar, Canadian Dollar, Chinese Yuan, Danish Kroner, EURO, Hong Kong Dollar, Kuwaiti Dinar, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Qatari Riyal, Saudi Arabian Riyal, Singapore Dollar, South African Rand, Swedish Kroner, Swiss Franc, Turkish Lira, UAE Dirham, and US Dollar.
• Schedule II states the foreign currency of Japanese Yen and Korean Won.
Kindly refer to the attached document for the Rate of exchange of one unit of foreign currency mentioned in Schedule I and II.
[Notification no. - 45/2024 - Customs (N.T.)]
