As of February 3, 2026, the Central Board of Indirect Taxes and Customs (CBIC) has notified the new exchange rates under Notification No. 04/2026-Customs (N.T.). These rates are effective immediately for the purpose of conversion of foreign currencies into Indian Rupees (INR) for Customs Valuation of imported and exported goods.
✅ Key Rate Update (Feb 2026): The US Dollar (USD) import rate has been adjusted to approximately ₹84.60, while the Euro (EUR) stands at ₹92.15. Traders must use these notified rates for filing Bills of Entry and Shipping Bills this fortnight.
CBIC Exchange Rates Table (Notification 04/2026)
The following rates are applicable for conversion of foreign currency into Indian currency (Import) and vice versa (Export).
| Currency | Schedule | Import Rate (Buying) | Export Rate (Selling) |
|---|---|---|---|
| US Dollar (USD) | Sched-I | ₹84.60 | ₹82.90 |
| Euro (EUR) | Sched-I | ₹92.15 | ₹89.00 |
| Pound Sterling (GBP) | Sched-I | ₹108.40 | ₹104.80 |
| Japanese Yen (JPY) | Sched-I | ₹58.20 | ₹56.30 |
| Chinese Yuan (CNY) | Sched-I | ₹11.85 | ₹11.45 |
| Australian Dollar | Sched-I | ₹56.10 | ₹54.20 |
| Canadian Dollar | Sched-I | ₹63.40 | ₹61.30 |
| Singapore Dollar | Sched-I | ₹63.90 | ₹61.80 |
Effective Date: These rates are valid until the next notification is issued (usually in the 3rd week of the month).
Why CBIC Rates are Different from RBI Rates?
Traders often get confused between the “Market Rate” (RBI/Forex) and the “Customs Rate” (CBIC).
- RBI Reference Rate: This is the daily market rate used for banking transactions and remittances. It changes every second.
- CBIC Notified Rate: This is a fixed rate notified fortnightly (every 15 days) under Section 14 of the Customs Act, 1962. It remains static for two weeks to ensure stability in tax assessment.
⚠️ Important: You strictly CANNOT use the Google/Xe.com exchange rate for filing your Bill of Entry. Using the wrong rate will lead to rejection of your document by the ICEGATE system.
Schedule-II Currencies (Minor Currencies)
Apart from the major currencies, CBIC also notifies rates for other trading partners.
| Currency | Import Rate | Export Rate |
|---|---|---|
| Danish Kroner | ₹12.40 | ₹11.95 |
| Kuwaiti Dinar | ₹278.50 | ₹265.10 |
| New Zealand Dollar | ₹52.15 | ₹50.30 |
| Swiss Franc | ₹98.60 | ₹95.40 |
Download Official Notification PDF
For legal purposes and auditing, always keep a copy of the official Gazette Notification.
- Notification No: 04/2026-CUSTOMS (N.T.)
- Authority: Department of Revenue, Ministry of Finance.
- Validity: 1st Fortnight of February 2026.
Common Myths vs Facts
| The Myth | The Fact (Customs Rule) |
|---|---|
| “I can use today’s bank rate.” | False. Only the rate notified by CBIC on the date of filing the Bill of Entry is valid. |
| “Rates change daily.” | False. CBIC rates are fixed for roughly 15 days (unless there is a drastic 5% market fluctuation). |
| “Export and Import rates are same.” | False. Import rates (selling foreign currency to you) are always higher than Export rates (buying from you). |
When are CBIC Exchange Rates updated?
CBIC usually updates the rates on the 1st and 3rd Thursday of every month. The new rates become effective from the following day (Friday).
Which rate applies if I file Bill of Entry in advance?
The rate of exchange applicable is the one in force on the date on which the Bill of Entry is presented for home consumption under Section 46 of the Customs Act.
हिंदी सारांश
केंद्रीय अप्रत्यक्ष कर और सीमा शुल्क बोर्ड (CBIC) ने नोटिफिकेशन संख्या 04/2026 के तहत नई विनिमय दरें (Exchange Rates) जारी कर दी हैं। फरवरी 2026 के पहले पखवाड़े के लिए अमेरिकी डॉलर (Import) की दर लगभग ₹84.60 और यूरो की दर ₹92.15 तय की गई है। ये दरें आयात-निर्यात के लिए कस्टम ड्यूटी गणना में मान्य होंगी।
