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of <h1>India Sets New Currency Exchange Rates for Imports/Exports, Effective January 5, 2018, per Notification No. 1/2018-Customs (N.T.</h1> The Government of India's Ministry of Finance issued Notification No. 1/2018-Customs (N.T.) on January 4, 2018, under the Customs Act, 1962. It supersedes the previous notification No. 118/2017-CUSTOMS (N.T.) dated December 21, 2017. The notification sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and export goods, effective January 5, 2018. The rates are detailed in two schedules: Schedule I lists rates for individual foreign currencies, while Schedule II lists rates for 100 units of certain currencies. This notification was later superseded by Notification No. 06/2018-Customs (N.T.) on January 18, 2018.
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