Exchange rate determination sets conversion rates for specified foreign currencies for customs import and export valuation. Determination under section 14 of the Customs Act, 1962 prescribes conversion rates between specified foreign currencies and Indian rupees effective 8th May, 2015 for customs treatment of imported and export goods, superseding the earlier notification of 16th April, 2015 except as to prior actions; rates are set separately for imports and exports in Schedule I (unit rates for seventeen currencies) and Schedule II (rates per 100 units for Japanese Yen and Kenya Shilling).