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of <h1>New Exchange Rates for Foreign Currencies to INR Announced for Imports and Exports Effective July 21, 2023.</h1> The Central Board of Indirect Taxes and Customs, under the Ministry of Finance, India, issued Notification No. 54/2023 on 20th July 2023, superseding Notification No. 50/2023. This notification sets the exchange rates for converting specified foreign currencies into Indian rupees for import and export purposes, effective from 21st July 2023. The rates are detailed in two schedules: Schedule I lists rates for individual foreign currencies, and Schedule II lists rates for 100 units of foreign currencies like the Japanese Yen and Korean Won. This notification will be superseded by Notification No. 57/2023 effective 4th August 2023.
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