India Updates Foreign Currency Exchange Rates for Imports/Exports via Customs Notification 108/2020, Effective November 20, 2020.

The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 108/2020 on November 19, 2020, under the Customs Act, 1962. This notification supersedes the previous Notification No. 105/2020 and establishes updated exchange rates for converting specified foreign currencies into Indian Rupees for import and export purposes, effective November 20, 2020. The exchange rates are detailed in two schedules: Schedule I lists rates for individual foreign currency units, while Schedule II provides rates for 100 units of certain currencies, including the Japanese Yen and Korean Won.

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