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of <h1>India Sets New Exchange Rates for Foreign Currencies in Import/Export Transactions Effective August 1, 2011</h1> The Government of India, through the Ministry of Finance and the Central Board of Excise and Customs, issued Notification No. 51/2011-Customs (N.T.) on July 27, 2011, setting the exchange rates for converting specified foreign currencies into Indian Rupees for imported and exported goods. Effective from August 1, 2011, the rates are detailed in two schedules. Schedule I lists rates for individual currencies like the US Dollar, Euro, and Pound Sterling, while Schedule II provides the rate for 100 units of the Japanese Yen. This notification supersedes the previous Notification No. 41/2011-Customs (N.T.).
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