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of <h1>India Sets New Exchange Rates for Imports/Exports Effective August 19, 2016 Under Notification No. 112/2016-Customs.</h1> The Government of India, through the Ministry of Finance's Department of Revenue, issued Notification No. 112/2016-Customs (N.T.) on August 18, 2016. This notification, effective from August 19, 2016, sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and export goods as per the Customs Act, 1962. The rates are detailed in two schedules, one for individual currency units and another for 100 units, covering currencies such as the US Dollar, Euro, Japanese Yen, and others. This supersedes the previous notification No. 106/2016-CUSTOMS (N.T.) dated August 4, 2016.
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