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of <h1>Central Board of Indirect Taxes and Customs launches automated exchange rate system, replacing manual updates with ERAM on July 4, 2024.</h1> The Exchange Rate Automation Module (ERAM) has been launched by the Central Board of Indirect Taxes and Customs to automate the process of determining and publishing exchange rates. This system replaces the manual method of notifying exchange rates, which were previously updated twice a month based on data from the State Bank of India. The automated system, effective from July 4, 2024, integrates exchange rate data into the Indian Customs EDI System and publishes it online for public access. Contingency measures are in place to address technical issues, ensuring consistent availability of exchange rates.
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