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of <h1>India Sets New Exchange Rates for Currency Conversion in Imports and Exports under Customs Act, 1962.</h1> The Government of India's Ministry of Finance, through the Central Board of Indirect Taxes and Customs, issued Notification No. 31/2018 on April 5, 2018, under the Customs Act, 1962. This notification supersedes the previous notification No. 19/2018 and sets the exchange rates for converting specified foreign currencies into Indian rupees for import and export purposes, effective from April 6, 2018. The rates are listed in two schedules, with Schedule I detailing rates for individual foreign currencies and Schedule II for 100 units of foreign currencies, applicable to various currencies including the US Dollar, Euro, and Japanese Yen.
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