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<h1>India Updates Currency Exchange Rates for Stamp Duty and Customs as of July 1, 1987, per Notification No. 247/87-Cus.</h1> The Central Government of India, under the powers granted by the Indian Stamp Act, 1899, and the Customs Act, 1962, has issued Notification No. 247/87-Cus. This notification supersedes the previous notification dated March 27, 1987, and sets the rates of exchange for converting specified foreign currencies into Indian currency for calculating stamp duty and customs purposes. Effective from July 1, 1987, the schedule lists the exchange rates for various currencies, including the U.S. Dollar at 7.745, the Pound Sterling at 4.7915, and others, against Rs. 100.