<h1>Customs Act 1962 Update: New Exchange Rates for Imports and Exports Effective July 5, 2013.</h1> The Central Board of Excise and Customs has updated the exchange rates for foreign currencies concerning imported and exported goods, effective July 5, 2013, under the Customs Act, 1962. The notification supersedes the previous one from June 20, 2013. The exchange rates are specified for various currencies, including the US Dollar, Euro, and Japanese Yen, among others, with distinct rates for imports and exports. For example, the US Dollar is set at 60.50 INR for imports and 59.50 INR for exports. These rates are crucial for determining the value of goods in international trade.