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of <h1>Customs Act Update: Exchange Rate for South African Rand Amended to 4.85 INR for Imports, 4.55 INR for Exports.</h1> The Central Board of Excise and Customs has amended Notification No. 93/2015-CUSTOMS (N.T.) concerning the exchange rates of foreign currencies under the Customs Act, 1962. Effective from September 30, 2015, the amendment specifically updates the exchange rate for the South African Rand in Schedule-I. The new rates are set at 4.85 Indian rupees for imported goods and 4.55 Indian rupees for export goods.
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