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of <h1>Customs Act Update: New Exchange Rates for Foreign Currencies in Exported Goods Effective May 1, 2006</h1> The notification, effective from May 1, 2006, issued by the Board under the Customs Act, 1962, revises the exchange rates for converting foreign currencies to Indian rupees for exported goods. It supersedes the previous notification dated March 28, 2006. The exchange rates are specified in two schedules: Schedule I lists rates for one unit of various foreign currencies, including the US Dollar at 44.90 INR and the Euro at 55.35 INR. Schedule II specifies the rate for 100 units of Japanese Yen at 38.70 INR. These rates are applicable for customs purposes.
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