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of <h1>CBEC Updates Exchange Rates for Currency Conversion in Imports/Exports Effective September 21, 2012, u/s 14 of Customs Act.</h1> The Central Board of Excise and Customs (CBEC) has announced new exchange rates for converting foreign currencies into Indian rupees for imported and exported goods, effective from September 21, 2012. This supersedes the previous notification from September 6, 2012. The rates vary for different currencies, such as the US Dollar at 54.75 INR for imports and 53.90 INR for exports, and the Euro at 71.40 INR for imports and 69.80 INR for exports. These adjustments are made under Section 14 of the Customs Act, 1962.
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