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of <h1>Central Government Updates Exchange Rates for Foreign Currencies under Customs Act, Effective September 1, 1998.</h1> Notification No. 53/98-Cus. (N.T.), dated 27th August 1998, issued by the Central Government under the Customs Act, 1962, supersedes Notification No. 46/98-Cus. (N.T.) dated 29th July 1998. It establishes new exchange rates for converting specified foreign currencies into Indian Rupees for export goods, effective from 1st September 1998. Schedule I lists the exchange rates for individual units of 15 foreign currencies, including the U.S. Dollar at 42.30 INR. Schedule II provides rates for 100 units of three currencies, including the Japanese Yen at 29.40 INR.
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