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of <h1>India's Ministry of Finance Updates Exchange Rates for Foreign Currencies Under Customs Act, Effective January 20, 2017.</h1> The Government of India's Ministry of Finance issued Notification No. 5/2017 on January 19, 2017, under the Customs Act, 1962. This notification sets forth the exchange rates for converting specified foreign currencies into Indian Rupees for import and export purposes, effective January 20, 2017. The rates apply to various currencies, including the US Dollar, Euro, and Japanese Yen, among others. This notification supersedes a previous notification dated January 5, 2017, except for actions already completed under it. The exchange rates are detailed in two schedules, with separate rates for imported and exported goods.
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