Exchange rate determination for customs conversion clarifies applicable foreign currency rates and treatment for imports and exports. The Central Board prescribes specified foreign currency conversion rates into Indian rupees for customs purposes under section 14 of the Customs Act, 1962, effective 4th November, 2021, superseding the prior notification. Two schedules list distinct rates for imported and exported goods-Schedule I provides per unit rates for listed currencies and Schedule II provides per 100 unit rates-thereby fixing the conversion mechanism and separate treatment for imports and exports.