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of <h1>CBEC Updates Exchange Rates for Currency Conversion Effective September 21, 2012, Under Customs Act Section 14.</h1> The Central Board of Excise and Customs (CBEC) has announced new exchange rates for converting foreign currencies into Indian rupees and vice versa, effective from September 21, 2012. This update, under Section 14 of the Customs Act, 1962, supersedes the previous notification from September 6, 2012. The rates apply to both imported and exported goods, with specific rates listed for various currencies, including the US Dollar, Euro, and Japanese Yen, among others. For instance, the exchange rate for one US Dollar is set at 54.75 rupees for imports and 53.90 rupees for exports.
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