<h1>Customs Act Update: New Exchange Rates for Imports and Exports Effective February 17, 2017.</h1> The Central Board of Excise and Customs has issued a notification under the Customs Act, 1962, updating the exchange rates for foreign currencies related to imported and exported goods, effective from February 17, 2017. The notification supersedes the previous announcement from February 2, 2017. The exchange rates for various currencies, including the US Dollar, Euro, and Japanese Yen, are specified for both import and export transactions, with distinct rates listed for each currency in two schedules. These rates are intended to standardize the conversion of foreign currencies into Indian rupees for customs purposes.