Exchange rate determination: prescribed currency conversion rates set for customs valuation of imports and exports. Under powers of section 14 of the Customs Act, 1962, the Board prescribes the rate of exchange for conversion of specified foreign currencies into Indian rupees and vice versa for import and export goods, effective 6th August, 2021, and annexes Schedules I and II listing separate rupee equivalents for imported and exported goods which are to be used for customs valuation until superseded.