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of <h1>Exchange Rates for South African Rand Updated: 5.25 INR for Imports, 4.90 INR for Exports under Customs Act Section 14.</h1> The Central Board of Indirect Taxes and Customs has amended Notification No. 2/2019-CUSTOMS (N.T.), dated January 3, 2019, effective from January 12, 2019. In Schedule-I of the original notification, the exchange rate for the South African Rand has been updated. The new rates are 5.25 Indian Rupees for imported goods and 4.90 Indian Rupees for exported goods. This amendment is issued under the authority of Section 14 of the Customs Act, 1962, and is documented under reference number F.No.468/01/2019-Cus.V.
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