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<h1>Customs Act Update: New Exchange Rates for Imports and Exports Effective July 22, 2016; Supersedes July 6 Notification.</h1> The Central Board of Excise and Customs, under the authority of the Customs Act, 1962, has updated the exchange rates for foreign currencies concerning imported and exported goods, effective from July 22, 2016. This notification supersedes the previous notification dated July 6, 2016. The exchange rates for various currencies, such as the US Dollar, Euro, and others, are specified for both import and export purposes. For instance, the US Dollar is set at 68.15 for imports and 66.45 for exports, while the Euro is set at 75.45 for imports and 72.95 for exports.