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<h1>India Updates Exchange Rates for Foreign Currencies in Imports and Exports under Customs Act, 1962.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 110/2020 on December 3, 2020, under the Customs Act, 1962. This notification supersedes Notification No. 108/2020 and sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods. Effective from December 4, 2020, the notification lists exchange rates for various currencies, including the US Dollar, Euro, and Japanese Yen, among others. The notification provides separate rates for imported and exported goods, detailed in two schedules.