Cus Ntf No. 32/1999 (NT) Date 26th May,1999

Foreign exchange rate of currency
In exercise of the powers conferred by sub-section (2) of section 20 of the Indian Stamp Act, 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.26/99-N.T.-Customs,[S.O.283(E)] dated the 23rd April, 1999 the Central Government hereby:-

(a)prescribes for the purpose of calculating stamp duty under the Indian Stamp Act, 1899 (2 of 1899),

(b)determines for the purposes of section 14 of the Customs Act, 1962 (52 of 1962) in so far as these relate to imported goods,

that the rate of exchange of conversion of each of the foreign currency specified in column (2) of Schedule I and Schedule II appended hereto into Indian currency or vice-versa shall, with effect from the 1st June, 1999 be the rate mentioned against it in the corresponding entry in column (3) thereof.

					SCHEDULE - I

	Sl.	FOREIGN CURRENCY	RATE OF EXCHANGE OF ONE UNIT OF FOREIGN
	NO.				CURRENCY EQUIVALENT TO INDIAN RUPEES

	(1)	(2)					(3)


	1.	Austrian Schilling			 	3.31
	2.	Australian Dollar				28.30
	3.	Canadian Dollar 				29.55
	4.	Danish Kroner				6.15
	5.	Deutsche Mark				23.30
	6.	Dutch Guilder				20.65
	7.	EURO	 				45.55
	8.	French Franc				6.95
	9.	Hong Kong Dollar			 	5.55
	10.	Norwegian Kroner		 		5.55
	11. 	Pound Sterling	        			68.70
	12. 	Swedish Kroner	        		 	5.10
	13. 	Swiss Franc				28.45
	14. 	Singapore Dollar				24.90
	15. 	U. S. Dollar				42.95


					SCHEDULE-II

	Sl. 	FOREIGN CURRENCY	RATE OF EXCHANGE OF 100 UNITS OF FOREIGN
	NO.				CURRENCY EQUIVALENT TO INDIAN RUPEES

	(1)	(2)					(3)


	1	Belgian Francs	        			112.90
	2.	Italian Lira				2.35
	3.	Japanese Yen		 		34.95

Sd/-
(Rimjhim Prasad)
Under Secretary to the Government of India

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