In the landscape of Indian international trade, precision in financial documentation is not just a preference – it is a legal mandate. For corporate importers and exporters, the cbic exchange rate serves as the singular authoritative benchmark for calculating customs duties. Unlike market-driven live rates that fluctuate by the second, these rates provide the necessary stability and uniformity required for the assessment of goods under the Customs Act, 1962.
As per the latest regulatory framework, the Central Board of Indirect Taxes and Customs (CBIC) utilizes the Exchange Rate Automation Module (ERAM) to release these figures. These automated updates ensure that the exchange rate cbic provides is synchronized with the latest market trends while maintaining a fixed window for trade compliance.
Customs Exchange Rates
| Currency | Unit | Import Rate | Export Rate |
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Consult MCS ExpertsThe Role of Exchange Rate Notification CBIC in Global Trade
The exchange rate notification cbic is typically updated twice a month – on the first and third Thursdays – becoming effective from the following day. This cycle allows businesses to forecast their “landed costs” with greater accuracy. For a corporate entity, even a minor variation in the cbic exchange rate can significantly impact the total duty outlay on high-value consignments.
It is important to note that these rates are divided into two schedules:
- Schedule I: Covers major currencies like the USD, EUR, and GBP, where the rate is quoted for a single unit of foreign currency.
- Schedule II: Specifically for currencies like the Japanese Yen (JPY), where the rate is determined for 100 units of the currency.
Why Trade Leaders Rely on MCS for Regulatory Insights
Navigating the complexities of customs valuation goes beyond simply checking a table. At Mundhra Consulting Services (MCS), we assist our clients in interpreting these notifications to optimize their supply chain strategy. Whether it involves determining the “Point of Taxation” or leveraging duty deferment schemes like MOOWR, our expertise ensures that your business remains compliant while maximizing capital efficiency.
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Consult MCS ExpertsFrequently Asked Questions (FAQs)
The CBIC customs exchange rate is the official exchange rate notified by the Central Board of Indirect Taxes and Customs (CBIC) under Section 14(3)(a)(i) of the Customs Act, 1962. This rate is used to convert the value of imported and exported goods from foreign currency to Indian Rupees (INR) for the purpose of calculating customs duty. It is different from the market exchange rate or the RBI reference rate.
CBIC updates the customs exchange rate twice a month – typically on the 1st and 15th of each month. The new rates are notified through an official notification and become effective from the date specified in the notification. If the 1st or 15th falls on a holiday, the notification may be issued on the preceding or following working day.
The current USD to INR customs exchange rate is INR 95.90 per USD for imports and INR 94.20 per USD for exports, as per CBIC Notification No. 29/2026-Customs (N.T.). This rate is applicable for both import and export transactions and is updated every 15 days. Refer to the rate table above for the latest applicable rate.
The RBI reference rate is the daily market-based exchange rate published by the Reserve Bank of India for general banking and forex transactions. The CBIC customs exchange rate is a separate rate notified specifically for customs valuation purposes under the Customs Act. The two rates are different – CBIC rates are fixed for a 15-day period, while RBI rates change daily. For customs duty calculation, only the CBIC notified rate is applicable, regardless of the actual market rate or RBI reference rate on the date of transaction.
Only the CBIC notified exchange rate is used for customs duty calculation. As per Section 14 of the Customs Act, 1962, the rate of exchange notified by CBIC is the legally applicable rate for determining the value of imported and exported goods in Indian Rupees. The RBI rate or bank selling rate is not applicable for customs purposes.
The CBIC notified import exchange rate for the respective invoice currency is used for calculating customs duty. For example, if your import invoice is in US Dollars, the CBIC notified USD to INR import rate applies – currently INR 95.90 per USD as per Notification No. 29/2026-Customs (N.T.). The rate applicable is the one in force on the date of filing the Bill of Entry, not the date of invoice or shipment. This rate applies to all imports invoiced in US Dollars, regardless of the country of origin – whether goods are shipped from the USA, China, Germany, or any other country. The applicable exchange rate is determined by the invoice currency, not the country of shipment.
CBIC notifies exchange rates for 22 foreign currencies in two schedules. Schedule I covers 20 currencies – US Dollar (USD), Euro (EUR), Pound Sterling (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Singapore Dollar (SGD), Hong Kong Dollar (HKD), Swiss Franc (CHF), Chinese Yuan (CNY), UAE Dirham (AED), Saudi Arabian Riyal (SAR), Qatari Riyal (QAR), Kuwaiti Dinar (KWD), Bahraini Dinar (BHD), New Zealand Dollar (NZD), Danish Kroner (DKK), Norwegian Kroner (NOK), Swedish Kroner (SEK), South African Rand (ZAR), and Turkish Lira (TRY) – quoted per one unit of foreign currency. Schedule II covers Japanese Yen (JPY) and Korean Won (KRW), quoted per 100 units of foreign currency.
The current EUR to INR customs exchange rate is INR 108.55 per EUR for imports and INR 104.85 per EUR for exports, as per CBIC Notification No. 29/2026-Customs (N.T.) effective from 16-10-2026. Euro is covered under Schedule I of the CBIC exchange rate notification, quoted per one unit of foreign currency. This rate is applicable for customs valuation of all goods imported or exported with invoices denominated in Euro.
The new customs exchange rate becomes effective from the date specified in the CBIC notification. For imports, the applicable rate is the rate in force on the date of filing the Bill of Entry. For exports, the applicable rate is the rate in force on the date of filing the Shipping Bill. If a Bill of Entry or Shipping Bill is filed in advance, the rate applicable on the date of entry inward of the vessel or the date of let export order is used.
The current GBP to INR customs exchange rate is INR 127.95 per GBP for imports and INR 123.95 per GBP for exports, as per CBIC Notification No. 29/2026-Customs (N.T.) effective from 16-10-2026. Pound Sterling is covered under Schedule I of the CBIC exchange rate notification. This rate is used for customs duty calculation on all imports and exports invoiced in British Pounds, including goods from the UK, and is updated every 15 days by CBIC.
Yes, CBIC notifies two different exchange rates for each currency – one for imports and one for exports. The import rate and export rate may differ slightly. The import rate is used for calculating customs duty on imported goods, while the export rate is used for valuation of exported goods, drawback calculations, and export benefit claims.
The exchange rate applicable to your import is the rate in force on the date of filing the Bill of Entry under Section 46 of the Customs Act. If the rate changes after filing, the new rate does not apply to your consignment. For advance Bill of Entry filings, the rate applicable on the date of entry inward of the vessel is used.
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