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of <h1>India Sets New Currency Exchange Rates for Imports/Exports Under Customs Act, 1962; Effective August 2, 2019.</h1> The Government of India, through the Ministry of Finance and the Central Board of Indirect Taxes and Customs, issued Notification No. 55/2019 on August 1, 2019. This notification, under the Customs Act, 1962, establishes the exchange rates for converting specified foreign currencies into Indian Rupees for imported and exported goods, effective from August 2, 2019. The rates are detailed in two schedules: Schedule I lists the rates for individual foreign currency units, while Schedule II provides rates for 100 units of foreign currencies. This notification supersedes the previous Notification No. 52/2019, except for actions already taken.
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