<h1>Exchange Rates for Imports/Exports Updated u/s 14 of Customs Act, 1962; Effective August 22, 2014.</h1> The Central Board of Excise and Customs has updated the exchange rates for foreign currencies in relation to imported and exported goods, effective from August 22, 2014, under Section 14 of the Customs Act, 1962. This supersedes the previous notification dated August 7, 2014. The updated rates for various currencies, such as the US Dollar, Euro, and Japanese Yen, are specified for both import and export transactions. For instance, the exchange rate for the US Dollar is 61.25 INR for imports and 60.25 INR for exports. These rates are crucial for calculating customs duties on international trade.