New Exchange Rates from Today
CBEC has notified new exchange rates for Imported Goods and for Export Goods with effect from 2 nd December, 2016. The USD is 69.40 for imports and 67.70 Rupees for exports.
Two years ago, analysts said that if the rupee depreciates to as low as Rs.70 against the dollar in the next two or three years, it will be beneficial for the economy. And we are proving them right, at least, on the first count!
Incidentally, the South African Rand is now pegged at 5.05 for exports and 4.70 for imports. Just two days back it was revised to 5.15 and 4.80 respectively.
Notification No. ., Dated: December 01, 2016