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<h1>Exchange rate determination for customs conversions sets official foreign currency rates for import and export valuation.</h1> CBIC determines official foreign currency conversion rates for customs purposes under the authority of section 14 of the Customs Act, superseding the earlier notification, and prescribes separate rates for imported and export goods in two annexed schedules (unit rates in Schedule I and per 100 unit rates in Schedule II) effective from the notification's commencement date for use in customs valuation and related procedures.