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of <h1>New Customs Notification Sets Exchange Rates for Foreign Currencies Effective August 1994 Under Customs Act, 1962</h1> The Central Government, under the Customs Act, 1962, has issued Notification No. 36/94-Cus. (N.T.) dated 27th July 1994, which supersedes the previous notification No. 32/94-Customs (N.T.). This notification sets the exchange rates for converting foreign currencies into Indian rupees for export goods, effective from 1st August 1994. Schedule I lists the rates for individual foreign currencies like the U.S. Dollar at 31.27 INR and the Pound Sterling at 47.88 INR. Schedule II provides rates for 100 units of foreign currencies such as Japanese Yen at 31.68 INR and Belgian Francs at 95.45 INR.
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