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of <h1>India's Ministry of Finance Updates Foreign Currency Exchange Rates for Imports and Exports, Effective December 16, 2016.</h1> The Government of India's Ministry of Finance issued Notification No. 147/2016, under the Customs Act, 1962, determining the exchange rates for various foreign currencies against the Indian Rupee, effective from December 16, 2016. This supersedes the previous notification No. 145/2016. The notification specifies exchange rates for both imported and exported goods. For example, the rate for the US Dollar is set at 68.65 for imports and 67.00 for exports. The notification includes detailed rates for currencies such as the Australian Dollar, Euro, and Japanese Yen, among others, across two schedules.
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