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of <h1>CBIC Updates Foreign Currency Conversion Rates for Imports and Exports Under Customs Act, 1962, Effective March 21, 2019.</h1> The Central Board of Indirect Taxes and Customs has updated the exchange rates for foreign currency conversion into Indian Rupees, effective March 21, 2019, under the Customs Act, 1962. This supersedes the previous notification dated March 7, 2019. The rates apply to both imported and exported goods and cover various currencies, including the US Dollar, Euro, Pound Sterling, Japanese Yen, and others. For instance, the exchange rate for one US Dollar is set at 70.00 INR for imports and 68.35 INR for exports. These rates are detailed in two schedules for different currencies.
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