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of <h1>India Sets New Exchange Rates for Export Goods Under Customs Act, 1962, Effective November 1, 1994</h1> The Central Government of India, under the Customs Act, 1962, has issued Notification No. 55/94-Cus. (N.T.) dated 27-10-1994, establishing new exchange rates for export goods. This supersedes the previous notification No. 48/94-Customs (N.T.) dated 27th September 1994. Effective from November 1, 1994, the specified foreign currencies listed in Schedule I and II are converted into Indian rupees at the rates provided. For instance, one U.S. Dollar is equivalent to 31.27 Indian rupees, and 100 Japanese Yen is equal to 32.22 Indian rupees.
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