Finance Ministry pegs dollar value at Rs 73.65 for computing import duty

The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 73.65 for calculation of import duty with effect from September 21, as against Rs 72.55 a fortnight ago.

Similarly, in case of Pound Sterling, the value has been fixed at Rs 97.40 as compared to Rs 94.30 earlier.

As regards Euro, the conversion rate for calculating taxes on imported goods has been fixed at Rs 86.55, as compared to Rs 85.05 on September 6, according to a finance ministry statement.
 

The sharp revision in exchange rate comes in the backdrop of nearly 13 per cent depreciation in the Rupee since the beginning of the year.

The rupee had collapsed to a historic intra-day low of 72.99 against the US dollar on Tuesday.

The conversion rate for computation of duty on export of goods has been fixed at Rs 71.95 to a dollar, Rs 94.05 to Pound Sterling, and Rs 83.45 to Euro.