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of <h1>India Sets New Exchange Rates for Customs: Notification 127/2016 Updates Currency Conversion for Imports and Exports.</h1> The Government of India, through the Ministry of Finance and the Central Board of Excise and Customs, issued Notification No. 127/2016 on October 20, 2016. This notification, effective from October 21, 2016, sets forth the exchange rates for converting specified foreign currencies into Indian rupees for customs purposes related to imported and export goods. The notification supersedes a previous one (No. 124/2016) and provides detailed exchange rates for various currencies, including the US Dollar, Euro, and Japanese Yen, among others, for both imported and exported goods.
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