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of <h1>India Updates Foreign Currency Exchange Rates for Customs, Effective Nov 17, 2012, as per Customs Act Section 14.</h1> The Central Board of Excise and Customs of India has announced new exchange rates for converting foreign currencies to Indian currency, effective November 17, 2012. This notification, under section 14 of the Customs Act, 1962, supersedes the previous notification dated November 1, 2012. The rates apply to both imported and exported goods, with specific rates listed 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 55.50 for imports and 54.55 for exports.
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