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of <h1>India's Ministry of Finance Sets New Exchange Rates for Customs with Notification No. 57/2014-Customs (N.T.).</h1> The Government of India's Ministry of Finance, through the Central Board of Excise and Customs, issued Notification No. 57/2014-Customs (N.T.) on August 7, 2014. This notification, effective from August 8, 2014, establishes the exchange rates for converting specified foreign currencies into Indian rupees for customs purposes related to imported and export goods. The rates are detailed in two schedules: Schedule I lists rates for individual units of foreign currencies like the US Dollar, Euro, and Australian Dollar, while Schedule II provides rates for 100 units of currencies such as the Japanese Yen and Kenya Shilling. This notification supersedes the previous Notification No. 53/2014-Customs (N.T.).
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