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of <h1>India's Central Board Updates Currency Exchange Rates for Imports/Exports Under Customs Act, 1962, via Notification No. 58/2022.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 58/2022 on July 7, 2022, under the Customs Act, 1962. This notification supersedes the previous Notification No. 51/2022, dated June 16, 2022. It specifies the exchange rates for converting various foreign currencies into Indian rupees for import and export purposes, effective from July 8, 2022. The rates are detailed in two schedules: Schedule I lists rates for one unit of foreign currency, while Schedule II provides rates for 100 units of certain currencies. This notification was later superseded by Notification No. 64/2022, effective July 22, 2022.
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