Exchange rate determination for customs: specified foreign currency conversion rates apply to imports and exports from 7 January 2022. The Central Board determines foreign exchange conversion rates under section 14 of the Customs Act, 1962, superseding the earlier notification and declaring that, with effect from 7 January 2022, the rates set out in the annexed Schedule I (unit rates for specified currencies) and Schedule II (rates per 100 units for specified currencies) shall apply to conversion between foreign currencies and Indian rupees for imported and export goods, with protection for actions prior to supersession.