If you file Bills of Entry or Shipping Bills, the dollar rate that matters is not the one on a currency app. It is the rate CBIC notifies, because customs values your invoice with it. This post covers the notification dated 1 October 2026: the rates for USD, GBP, EUR and AED, how they have moved since July, and a look at why some Gulf currencies carry such wide gaps between import and export rates.
These are customs reference rates, not live bank, forex-counter or remittance rates. Check the latest notification on ICEGATE before any filing.
The headline rates
Rupees per one unit of foreign currency, from the ICEGATE notification dated 1 October 2026.
| Currency | Import rate (₹) | Export rate (₹) |
|---|---|---|
| US Dollar (USD) | 96.80 | 95.10 |
| Pound Sterling (GBP) | 130.45 | 126.35 |
| Euro (EUR) | 111.90 | 108.15 |
| UAE Dirham (AED) | 26.90 | 25.40 |
Official source: ICEGATE, Indian Customs Electronic Gateway, under the Central Board of Indirect Taxes and Customs (CBIC).
What has changed since July
The most recent earlier notification I compared against is No. 22/2026, effective 17 July 2026. Because this covers more than one revision window, read the changes below as cumulative movement, not a single-cycle change.
| Currency | July import (₹) | Oct import (₹) | Change | July export (₹) | Oct export (₹) | Change |
|---|---|---|---|---|---|---|
| USD | 97.20 | 96.80 | −0.40 (−0.4%) | 95.45 | 95.10 | −0.35 |
| GBP | 132.45 | 130.45 | −2.00 (−1.5%) | 128.30 | 126.35 | −1.95 |
| EUR | 112.35 | 111.90 | −0.45 (−0.4%) | 108.60 | 108.15 | −0.45 |
| AED | 27.00 | 26.90 | −0.10 (−0.4%) | 25.45 | 25.40 | −0.05 |
The four headline currencies all slipped, with the pound falling most. The bigger moves were elsewhere:
| Currency | July import (₹) | Oct import (₹) | Change |
|---|---|---|---|
| Korean Won (per 100) | 6.70 | 7.15 | +6.7% |
| Japanese Yen (per 100) | 60.35 | 62.45 | +3.5% |
| Swiss Franc | 122.15 | 118.75 | −2.8% |
| Swedish Kroner | 10.15 | 9.85 | −3.0% |
| New Zealand Dollar | 56.35 | 56.35 | see note |
Correction for the NZD row: July import was ₹57.75, so the change is −2.4%.
The notification does not give reasons for any of these moves, so I won’t guess at them. What matters for your paperwork is the effect in rupees:
| Invoice | At July rate | At 1 Oct rate | Difference |
|---|---|---|---|
| Import USD 10,000 | ₹9,72,000 | ₹9,68,000 | −₹4,000 |
| Import GBP 5,000 | ₹6,62,250 | ₹6,52,250 | −₹10,000 |
| Import JPY 500,000 | ₹3,01,750 | ₹3,12,250 | +₹10,500 |
A shipment valued in yen now comes out higher in rupees, while one valued in pounds comes out lower. Duty is calculated on that assessable value, so the swing carries through.
Why there are two rates
Each currency has an import rate and an export rate, and customs uses whichever matches the direction of the transaction. One trade-compliance source attributes the difference to banking spreads and valuation methodology. The notification itself doesn’t publish the margin for each currency.
On an USD 10,000 invoice the two rates differ by ₹17,000: ₹9,68,000 on import against ₹9,51,000 on export.
The Gulf currencies: wide gaps that persist
The dirham, Saudi riyal, Qatari riyal and Bahraini dinar are all pegged to the US dollar. You might expect their customs rates to equal the dollar rate divided by the peg. They don’t. The table divides the 1 October USD rate by each official peg (AED 3.6725, SAR 3.75, QAR 3.64, BHD 0.376 per dollar) and compares the result with the notified rate.
| Currency | Dollar-implied import (₹) | Notified import (₹) | Dollar-implied export (₹) | Notified export (₹) |
|---|---|---|---|---|
| AED | 26.36 | 26.90 | 25.90 | 25.40 |
| SAR | 25.81 | 27.10 | 25.36 | 24.95 |
| QAR | 26.59 | 28.00 | 26.13 | 24.60 |
| BHD | 257.45 | 268.55 | 252.93 | 238.45 |
The import–export gap is about 12% of the import rate for QAR and about 11% for BHD, against under 2% for USD. This is not new. In the 17 July notification the Qatari riyal was ₹28.35 / ₹24.90 and the Bahraini dinar ₹272.50 / ₹242.05, which is roughly the same proportion. The notification does not explain the wider margins. What the data shows is that they are a stable feature of these currencies, and customs rates are not dollar rates divided by a peg.
The practical rule: for a Gulf-currency invoice, use the notified rate for that currency. Do not derive it from the dollar rate, because the result won’t match what customs applies.
Complete list: all 22 currencies, 1 October 2026
| S.No | Code | Currency | Unit | Import (₹) | Export (₹) |
|---|---|---|---|---|---|
| 1 | AED | UAE Dirham | 1 | 26.90 | 25.40 |
| 2 | AUD | Australian Dollar | 1 | 69.70 | 66.75 |
| 3 | BHD | Bahraini Dinar | 1 | 268.55 | 238.45 |
| 4 | CAD | Canadian Dollar | 1 | 69.70 | 67.50 |
| 5 | CHF | Swiss Franc | 1 | 118.75 | 113.80 |
| 6 | CNY | Chinese Yuan | 1 | 14.55 | 14.05 |
| 7 | DKK | Danish Kroner | 1 | 14.90 | 14.55 |
| 8 | EUR | Euro | 1 | 111.90 | 108.15 |
| 9 | GBP | Pound Sterling | 1 | 130.45 | 126.35 |
| 10 | HKD | Hong Kong Dollar | 1 | 12.40 | 12.10 |
| 11 | JPY | Japanese Yen | 100 | 62.45 | 60.55 |
| 12 | KRW | Korean Won | 100 | 7.15 | 6.75 |
| 13 | KWD | Kuwaiti Dinar | 1 | 320.45 | 301.35 |
| 14 | NOK | Norwegian Kroner | 1 | 10.30 | 10.05 |
| 15 | NZD | New Zealand Dollar | 1 | 56.35 | 53.60 |
| 16 | QAR | Qatari Riyal | 1 | 28.00 | 24.60 |
| 17 | SAR | Saudi Arabian Riyal | 1 | 27.10 | 24.95 |
| 18 | SEK | Swedish Kroner | 1 | 9.85 | 9.65 |
| 19 | SGD | Singapore Dollar | 1 | 76.45 | 73.90 |
| 20 | TRY | Turkish Lira | 1 | 2.05 | 1.90 |
| 21 | USD | US Dollar | 1 | 96.80 | 95.10 |
| 22 | ZAR | South African Rand | 1 | 6.05 | 5.70 |
JPY and KRW are quoted per 100 units, so divide by 100 for a single unit. An import invoice of JPY 500,000 is 5,000 × ₹62.45 = ₹3,12,250. The Australian and Canadian dollars now share an import rate of ₹69.70. The Australian dollar rose from ₹68.90 in July to meet it, and the export rates still differ (₹66.75 and ₹67.50).
How often the rates change
CBIC revises customs rates through ICEGATE’s Exchange Rate Automation Module. Trade consultancy sources describe the usual pattern as two revisions a month, on the first and third Thursdays, taking effect the next day. The July notification fits this: it was dated Thursday 16 July and effective Friday 17 July. Still, treat it as a typical pattern, not a guarantee. The date printed on the notification is what decides which rate applies to your filing.
Why your bank’s rate will differ
A customs rate tells you what an invoice is worth for duty purposes. It is not what you will pay or receive. Your bank or forex provider quotes its own rate, adds margins and charges, and prices it at a particular time of day. The two will rarely match.
Quick questions
Which rate applies to a Bill of Entry? The import rate in force for the relevant date. A Shipping Bill uses the export rate. Confirm the applicable date on the notification.
Can I use these for a bank remittance? No. Ask your bank for its quoted rate.
When is the next update? Check ICEGATE or the CBIC notifications page. Revisions are commonly fortnightly, but the confirmed date is on the notification.
Sources
- ICEGATE, Indian Customs Electronic Gateway: exchange rate notification dated 01-10-2026
- CBIC exchange rate notifications: official notification archive
- EXIMINQ customs rate archive: July 2026 comparison figures (notification 22/2026, effective 17 July 2026)
- Mundhra Consulting: CBIC exchange rate notifications: revision-cycle description
Disclaimer
Rates in this article are drawn from the ICEGATE exchange-rate service and are for informational and customs-reference purposes only. They are not live bank, forex-counter or money-transfer rates. Actual transaction rates vary with the provider, charges, commissions, taxes and timing. Verify the latest applicable rate on the official ICEGATE source before any financial or customs transaction.
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