Daily reference rates for Indian exporters and importers — major currencies vs. INR
Bank converts incoming USD/EUR at TT Buying Rate (slightly below live rate). Hold funds in EEFC account to convert when rate is favourable. Get FIRC/FIRA from bank; file BRC on DGFT portal after realisation. EDPMS to close within 9 months of shipment.
Bank debits at TT Selling Rate (slightly above live rate). Book forward contracts to lock rate for future import payments. Submit Composite Declaration + invoice + BoE to bank. IDPMS must close within 6 months of remittance date.
| Currency | Code | 1 Unit = INR | INR per 100 Units | Category |
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