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of <h1>India Sets New Exchange Rates for Currency Conversion in Import/Export Transactions; Notification No. 78/2022 Supersedes Previous Rates.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 78/2022 on September 15, 2022, under the Customs Act, 1962. It supersedes Notification No. 73/2022 and establishes the exchange rates for converting specified foreign currencies into Indian rupees for imported and export goods, effective from September 16, 2022. The notification includes detailed exchange rates for various currencies like the US Dollar, Euro, and Japanese Yen, among others, for both import and export purposes. Subsequent amendments were made to the rates for the Pound Sterling in later notifications.
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