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of <h1>Govt Updates Foreign Currency Exchange Rates for Stamp Duty & Customs; Effective April 1, 1988</h1> The Central Government, under the Indian Stamp Act, 1899, and the Customs Act, 1962, has issued a notification prescribing the exchange rates for converting specified foreign currencies into Indian currency, effective April 1, 1988. This notification supersedes the previous one dated December 28, 1987. The schedule lists various foreign currencies with their respective exchange rates equivalent to Rs. 100. For instance, the rate for U.S. Dollars is 7.630, for British Pound Sterling is 4.1450, and for Japanese Yen is 949. These rates are applicable for calculating stamp duty and customs purposes.
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