<h1>Central Board of Excise and Customs Updates Foreign Currency Exchange Rates for Imports and Exports Effective January 16, 2015.</h1> The Central Board of Excise and Customs has announced new exchange rates for foreign currencies concerning imported and exported goods, effective January 16, 2015. Under the Customs Act, 1962, these rates replace the previous notification from January 1, 2015. The updated rates specify the conversion of various foreign currencies into Indian rupees for import and export transactions. For instance, the US Dollar is set at 62.30 INR for imports and 61.30 INR for exports, while the Euro is at 73.70 INR for imports and 71.90 INR for exports. Other currencies include the Australian Dollar, Canadian Dollar, and Japanese Yen, among others.