<h1>New Exchange Rates for Foreign Currencies in Indian Rupees Effective July 17, 2020, Under Customs Act Section 14.</h1> The Central Board of Indirect Taxes and Customs has issued Notification No. 59/2020, determining the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods, effective from July 17, 2020. This supersedes the previous Notification No. 55/2020, dated July 2, 2020. Schedule I lists exchange rates for individual foreign currencies like the US Dollar, Euro, and others, while Schedule II provides rates for 100 units of currencies like the Japanese Yen and Korean Won. These rates are applicable under section 14 of the Customs Act, 1962, for customs purposes.