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of <h1>New Exchange Rates Announced for Foreign Currency Conversion to INR, Effective August 2, 2019, Under Customs Act 1962.</h1> The Central Board of Indirect Taxes and Customs has announced new exchange rates for converting foreign currencies into Indian rupees, effective from August 2, 2019. This update, made under the Customs Act, 1962, supersedes the previous notification dated July 18, 2019. The rates apply to both imported and exported goods, with specific rates detailed for various currencies such as the US Dollar, Euro, and Japanese Yen, among others. For instance, the exchange rate for the US Dollar is set at 70.00 INR for imports and 68.30 INR for exports.
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