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of <h1>India Sets New Exchange Rates for South African Rand Under Customs Act 1962, Effective September 23, 2016.</h1> The Government of India, through the Ministry of Finance's Department of Revenue and the Central Board of Excise and Customs, issued Notification No. 122/2016 on September 22, 2016. This notification amends a previous notification (No. 121/2016) regarding the exchange rate for foreign currencies under the Customs Act, 1962. Effective from September 23, 2016, the exchange rate for the South African Rand is set at 5.10 Indian Rupees for imported goods and 4.75 Indian Rupees for export goods.
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