Foreign Exchange - Conversion Rate - CBEC corrects overvaluation of YEN
IT was only yesterday that DDT reported the CBEC faux pas in overvaluing the exchange rate of Japanese YEN by a hundred times.
The Board was quick to act and yesterday itself they rectified the mistake by issuing a corrigendum.
Actually the corrigendum and the notification had only a day's shelf life as Board has again issued another notification prescribing exchange rates for major currencies effective from today.
The new exchange rate for 100 YEN for import is Rs. 54.05 and US Dollar is at Rs. 63.85.
It is gratifying to note the super fast rectification by the Board.
CBEC Corrigendum in F. No. 468/01/2014-Cus.V, Dated: December 18, 2014
Notification No. , Dated: December 18, 2014