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Notification no. 17/2003, dated 25 Feb 2003

25th February, 2003

Notification No.17/2003-Customs -(N.T.)

            In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in supercession of the notification of the Government of India in the Ministry of Finance & Company Affairs (Department of Revenue) No.10/2003-NT-Customs, dated the 28th January, 2003 [S.O.95(E), dated the 28th January2003], the Board hereby determines for the purposes of said section relating to export goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1stMarch, 2003, be the rate mentioned against it in the corresponding entry in column (3) thereof.

Schedule - I

S.No.

Foreign Currency

Rate of exchange of one unit of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

1.

Australian Dollar

28.40

2.

Canadian Dollar

31.65

3.

Danish Kroner

6.85

4.

EURO

51.00

5.

Hong Kong Dollar

6.10

6.

Norwegian Kroner

6.75

7.

Pound Sterling

74.95

8.

Swedish Kroner

5.60

9.

Swiss Franc

34.70

10.

Singapore Dollar

27.30

11.

US Dollar

47.55

Schedule - II

S.No.

Foreign Currency

Rate of exchange of 100 units of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

1.

Japanese Yen

40.15

N.J. Kumaresh
Under Secretary to the Government of India

F.No.468/4/2003-Cus.V

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