Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified


Image result for Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified 


          In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.113/2017-CUSTOMS (N.T.), dated 07th December, 2017 except as respects things done or omitted to be done before such supersession, the Central Board of Excise 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 22nd December, 2017, 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)

(1)
(2)




(a)
(b)


(For Imported
(For Export


Goods)
Goods)
1.
Australian Dollar
49.95
48.20
2.
Bahrain Dinar
175.75
164.20
3.
Canadian Dollar
50.80
49.10
4.
Chinese Yuan
9. 90
9. 60
5.
Danish Kroner
10.40
10.00
6.
EURO
77.40
74.75
7.
Hong Kong Dollar
8.30
8.05

8.
Kuwait Dinar
219.40
204.95






9.
New Zealand Dollar
45.75
44.10






10.
Norwegian Kroner
7.75
7.45






11.
Pound Sterling
87.10
84.10






12.
Qatari Riyal
18. 10
17.10






13.
Saudi Arabian Riyal
17.65
16.55






14.
Singapore Dollar
48.45
46.85






15.
South African Rand
5.20
4.85






16.
Swedish Kroner
7.75
7.50






17.
Swiss Franc
66.05
63.85






18.
UAE Dirham
18.05
16.85






19.
US Dollar
64.90
63.20






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
(For Export


Goods)
Goods)
1.
Japanese Yen
57.40
55.50




2.
Kenya Shilling
64. 90
60.65





********
Increase in import duty on Chana (Chickpeas) and Masoor (Lentils) 

Government has decided to impose 30% import duty on Chana (Chickpeas) and Masoor (Lentils), with immediate effect.Production of Chana (Chickpeas) and Masoor (Lentils) are expected to be high during the forthcoming Rabi season, and cheap imports, if allowed unabated, are likely to adversely affect the interest of the farmers. Taking these factors into consideration and to protect the interest of the farmers Government has decided to increase the said import duty. 

At present, tur attract 10% import duty. Further, Government has recently imposed 50% import duty on yellow peas. Other pulses, however, attract Nil import duty. There has been a record production of pulses in the current year. However, despite sufficient domestic availability, import of pulses continue to take place on account of low prevailing international prices. Such imports suppress the domestic prices of pulses and adversely affect the interest of farmers. 

Notification number 93/2017-Customs dated 21.12.2017 has been issued in this regard. 

No comments

Powered by Blogger.