Supersedes Notification No. 40/89-Cus. (N.T.) - Exchange rates - 59/89 - Customs - Non Tariff

Supersedes Notification No. 40/89-Cus. (N.T.) - Exchange rates Notification No. 59/89-Cus. (N.T.) Dated 27-9-1989 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. 40/89-NON-TARIFF-CUSTOMS, [S.O. 489(E)], dated the 27th June, 1989, the Central Government hereby— (a) Prescribes for the purposes of calculating stamp duty under the Indian Stamp Act, 1899 (2 of 1899), and (b) Determines for the purposes of section 14 of the Customs Act, 1962 (52 of 1962), that the rate of exchange of conversion of each of the foreign currency specified in column (2) of the Schedule below into Indian currency or vice-versa shall, with effect from the 1st day of the October, 1989, be the rate mentioned against it in the corresponding entry in column (3) thereof. THE SCHEDULE S.No. Foreign Currency Rate of exchange of foreign currency equivalent to Rs. 100/- (1) (2) (3) 1. Austrian Schillings 79.60 2. Australian Dollars 7.5600 3. Belgian Francs 237.00 4. Canadian Dollars 6.9775 5. Danish Kroners 44.10 6. Deutsche Marks 11.3275 7. Dutch Guilders 12.7875 8. French Francs 38.35 9. Hong Kong Dollars 46.35 10. Italian Lire 8182 11. Japanese Yen 847.50 12. Malaysian Dollars 15.9725 13. Norwegian Kroners 41.50 14. Pound Sterling 3.6955 15. Swedish Kroners 38.58 16. Swiss Francs 9.8400 17. U.S.A. Dollars 5.9425 18. Singapore Dollars 11.6775