Rate of exchange of conversion of foreign currency into indian curren

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[PDF]http://www.finmin.nic.in/press_room/2012/Exchange_rate_17112012.pdf[/PDF]. Is Quota , Permit ,License Raj sneaking again into Indian Economy?

 

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Re: Rate of exchange of conversion of foreign currency into indian cu

This rate fixing is done by the Government as a procedural issue. The Forex rate keeps on changing minute to minute and the Import/Export Duties cannot be calculated on such a volatile variable.

So to ease the issue and make things uniform the Govt. fixes the rate once every month.

 

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Re: Rate of exchange of conversion of foreign currency into indian cu

This rate fixing is done by the Government as a procedural issue. The Forex rate keeps on changing minute to minute and the Import/Export Duties cannot be calculated on such a volatile variable.

So to ease the issue and make things uniform the Govt. fixes the rate once every month.

so it is just rate indicator and not the "reigning-in" of currency rate artificially

 

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Re: Rate of exchange of conversion of foreign currency into indian cu

Yes, today the Government cannot adjust the rate of the Rs. Only the Chinese have that kind of exchange reserves and positive inflow of FX to be able to do this.