In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Central Board of Indirect Taxes and Customs Notification No.37/2019-CUSTOMS (N.T.), dated 16thMay, 2019 with effect from 1st June, 2019.

In the SCHEDULE-I of the said Notification, for serial No.15 and the entries relating thereto, the following shall be substituted, namely: -

SCHEDULE-I

Sl. No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Exported Goods)
15.	South African Rand	4.85	4.55

Exchange rate update: customs notification substitutes South African rand import and export conversion rates under the Customs Act. Amendment to customs exchange rate schedule substitutes the listed conversion rates for the South African rand for import and export valuation under the authority of the Customs Act, replacing the prior Schedule-I entry with distinct rates for imported and exported goods effective 1st June, 2019.