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of <h1>Government Sets Exchange Rates for Import under Customs Act; Effective December 1, 2000</h1> Notification No. 70/2000-Customs (N.T.), dated 27th November 2000, issued by the Central Government, prescribes exchange rates for the import of goods effective from 1st December 2000. Under the Indian Stamp Act, 1899, and the Customs Act, 1962, the rates for converting specified foreign currencies into Indian Rupees are provided in two schedules. Schedule I lists individual currency rates, such as the US Dollar at 47.05 INR and the Euro at 39.50 INR. Schedule II provides rates for 100 units of certain currencies, including the Japanese Yen at 42.55 INR.
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