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of <h1>New Exchange Rates Set for Foreign Currencies Against INR Under Customs Act, Effective May 21, 2021.</h1> The Central Board of Indirect Taxes and Customs has issued a notification under the Customs Act, 1962, setting new exchange rates for foreign currencies against the Indian rupee effective from May 21, 2021. This supersedes a previous notification from May 6, 2021. The rates apply to both imported and exported goods, with specific rates listed for currencies including the US Dollar, Euro, British Pound, and others. For instance, the exchange rate for the US Dollar is set at 74.10 for imports and 72.35 for exports. The notification aims to standardize currency conversions for customs purposes.
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