Exchange rate determination under section 14: prescribed rates govern valuation for imports and exports, effective from notification. The Central Board, under section 14 of the Customs Act, 1962, prescribes distinct rates of exchange for listed foreign currencies for valuation of imported and exported goods, effective from 18th June, 2021, superseding Notification No.51/2021-Customs(N.T.). The rates are set out in two annexed schedules: Schedule I (per unit rates) and Schedule II (per 100 units) specifying import and export rupee equivalents.