Exchange Rate Determination: CBIC prescribes foreign currency conversion rates for import and export goods under Customs law. The Central Board of Indirect Taxes and Customs, invoking powers under the Customs Act, supersedes a prior notification and prescribes the rate of exchange for specified foreign currencies into Indian rupees for import and export goods, effective from 07th July, 2023, as set out in Schedule I (per unit rates with separate columns for imported and export goods) and Schedule II (rates per 100 units for specified currencies). The supersession does not affect prior acts or omissions.