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<h1>Exchange Rates for Currency Conversion in Import/Export Transactions Updated by CBIC, Effective May 18, 2018.</h1> Notification No. 43/2018 issued by the Central Board of Indirect Taxes and Customs on May 17, 2018, establishes the exchange rates for converting specified foreign currencies into Indian rupees for the purpose of assessing imported and exported goods under the Customs Act, 1962. Effective from May 18, 2018, the rates apply to currencies such as the US Dollar, Euro, and others, with distinct rates for import and export transactions. This notification supersedes the previous Notification No. 35/2018, except for actions completed before this update. The notification includes detailed exchange rates for each currency in Schedule I and II.