<h1>Customs Act, 1962: New Foreign Currency Exchange Rates for Imports/Exports Effective August 8, 2014.</h1> The Central Board of Excise and Customs, under the Customs Act, 1962, has updated the exchange rates for foreign currencies concerning imported and exported goods, effective from August 8, 2014. The revised rates are specified for various currencies, including the US Dollar, Euro, and Japanese Yen, among others, for both import and export purposes. For instance, the rate for the US Dollar is set at 61.85 INR for imports and 60.85 INR for exports. These adjustments replace the previous notification dated July 17, 2014, while maintaining actions taken under the former rates.