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<h1>CBEC Updates Exchange Rates for Imports and Exports Effective January 4, 2013, Under Customs Act, 1962.</h1> The Central Board of Excise and Customs (CBEC) of India has updated the exchange rates for foreign currencies concerning imported and exported goods, effective January 4, 2013. This update, issued under the Customs Act, 1962, supersedes the previous notification from December 20, 2012. The new rates specify the conversion values of various foreign currencies, such as the US Dollar, Euro, and Japanese Yen, into Indian Rupees for both import and export transactions. For instance, the US Dollar is set at 54.85 INR for imports and 53.85 INR for exports.
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