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of <h1>India Sets New Forex Conversion Rates for Trade Under Customs Act Section 14, Effective June 16, 2017.</h1> The Government of India's Ministry of Finance, through the Central Board of Excise and Customs, issued Notification No. 53/2017 on June 15, 2017. This notification, effective from June 16, 2017, sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods under Section 14 of the Customs Act, 1962. The rates are listed in two schedules: Schedule I for individual foreign currencies and Schedule II for 100 units of foreign currencies, covering currencies such as the US Dollar, Euro, Japanese Yen, and others. This notification supersedes the previous Notification No. 52/2017.
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