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of <h1>India Sets New Foreign Currency Exchange Rates for Imports/Exports; Effective April 8, 2016, per Notification No. 48/2016.</h1> The Government of India, through the Ministry of Finance and the Central Board of Excise and Customs, issued Notification No. 48/2016 on April 7, 2016, setting the exchange rates for foreign currencies effective from April 8, 2016. This notification supersedes the previous Notification No. 41/2016. It specifies the conversion rates for various foreign currencies into Indian rupees for both imported and exported goods. The rates are detailed in two schedules, with Schedule-I listing rates for one unit of foreign currency and Schedule-II for 100 units, covering currencies such as the US Dollar, Euro, Japanese Yen, and others.
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