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of <h1>New Exchange Rates for Foreign Currencies in Import/Export Goods Announced u/s 14 of Customs Act, 1962.</h1> The Central Board of Indirect Taxes and Customs, under the Ministry of Finance, issued Notification No. 02/2023 on January 5, 2023, superseding Notification No. 109/2022. This notification, effective January 6, 2023, establishes the exchange rates for converting specified foreign currencies into Indian rupees for imported and export goods. The rates are detailed in two schedules: Schedule I lists rates per unit for currencies like the US Dollar, Euro, and Australian Dollar, while Schedule II provides rates per 100 units for currencies like the Japanese Yen and Korean Won. These rates apply under Section 14 of the Customs Act, 1962.
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