<h1>CBIC Updates Exchange Rates for Imports and Exports u/s 14 of Customs Act 1962 Effective April 5, 2019.</h1> The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification under section 14 of the Customs Act, 1962, updating the exchange rates for foreign currencies concerning imported and exported goods. Effective from April 5, 2019, the rates apply to currencies including the US Dollar, Euro, and Japanese Yen, among others. For instance, the exchange rate for the US Dollar is set at 69.45 INR for imports and 67.75 INR for exports. These rates are detailed in Schedules I and II, specifying the conversion rates for various currencies into Indian Rupees.