<h1>Exchange rate determination for foreign currencies to govern import and export valuation under the Customs Act notification.</h1> The Board, invoking section 14 of the Customs Act, superseded Notification No.40/2017-CUSTOMS (N.T.) and prescribed specified rupee conversion rates for each listed foreign currency, distinguishing rates for imported goods and for export goods, effective 05th May, 2017, with rates set out in Schedule I (per unit) and Schedule II (per 100 units) for application in customs valuation of imports and exports.