<h1>Customs exchange rate determination sets new prescribed currency conversion rates for import and export valuation from July 2019.</h1> The Board, exercising the power under Section 14 of the Customs Act, 1962, prescribes specific rupee equivalents for listed foreign currencies to be used for customs valuation, with separate conversion rates for imported and exported goods set out in Schedule I (per unit) and Schedule II (per 100 units). The notification takes effect from 19th July, 2019 and supersedes the prior notification of 4th July, 2019 except as to past actions.