This circular amends Circular 07/2024-Customs to further ...

Streamlining customs exchange rate updates: automated SBI rates, holiday adjustments, manual overrides.

Circulars     Customs

September 19, 2024

This circular amends Circular 07/2024-Customs to further streamline the automated exchange rate publication process. Key amendments include: If the due date (1st or 3rd Thursday) falls on a holiday, the last received rates from SBI will be published on ICEGATE website on that day. Where due date falls on a public holiday, incomplete message received, or API integration error, the last received rates from SBI will be published on ICEGATE and integrated into ICES, effective from midnight next day. If SBI rates fail to integrate into ICES by 6 PM on due dates or when +/-5% variation requires revised rates, an alert will be sent to nodal officers, and rates will be manually updated in ICES by the nodal officer before midnight for next day's effectiveness.

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