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Cotton import & export exchange rate for April

03
Apr '07
The exchange rate of RMB against US Dollar on March 21, 2007, according to the Bank of China, stood at one dollar vs 7.355 RMB.

Therefore the exchange rate of import and export tariffs for April will be calculated as one US dollars = 7.7355 RMB.

According to the Notice No. 53 of 2005 announced by the General Administration of Customs on October 30, 2005, the applicable monthly rate of tax levied on import and export goods should be of the Bank of China foreign exchange conversion rate (conversion price of the Bank of China) on the third Wednesday of the previous month. If the third Wednesday is legal holiday, then it will postpone to the fourth Wednesday.

The tariffs on cotton imports and exports for declarations in April should be calculated against the conversion price of the Bank of China on the third Wednesday (March 21) in March.

Fibre2fashion, News Desk - China


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