<h1>New Exchange Rates for Imports and Exports Announced by CBIC Effective August 17, 2018 under Customs Act, 1962.</h1> The Central Board of Indirect Taxes and Customs has announced new exchange rates for foreign currencies related to imported and export goods, effective from August 17, 2018. This notification supersedes the previous one dated August 2, 2018. The exchange rates are specified for various currencies including the US Dollar, Euro, and Japanese Yen, among others. For instance, the exchange rate for one US Dollar is set at 71.10 INR for imports and 69.40 INR for exports. These rates are determined under the Customs Act, 1962, to facilitate accurate conversion for trade purposes.