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of <h1>Indian Government Updates Customs Exchange Rates for Export Goods under Notification No. 18/2001, Effective May 1, 2001.</h1> The Central Government of India has issued Notification No. 18/2001 Customs (N.T.), effective from May 1, 2001, superseding Notification No. 14/2001-Cus. (N.T.). This notification, under the Customs Act, 1962, establishes the exchange rates for converting specified foreign currencies to Indian Rupees for export goods. Schedule I lists rates for individual units of currencies like the US Dollar at 46.65 INR and the Euro at 41.80 INR. Schedule II provides rates for 100 units of currencies such as the Japanese Yen at 38.35 INR. This adjustment affects the exchange rates applicable to export transactions.
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