Conversion rate of currency

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Jitendra (Querist)

24 December 2010 Dear Sirs,

I want to know, how RBI decide exchange rate of rupee comparison to currency of other countries

Every day it is changed, how it is calculated?

Kindly give me an example of calculation of it so that I could understand the concept of conversion.

Thanks & Regards
Jitendra

Hitender Gaur

Hitender Gaur (Expert)

25 December 2010 You can see every day exchange rate of official site of RBI, there are calculated on the basis of various international trading facts.

Jitendra

Jitendra (Querist)

31 December 2010 Dear Sir,

Thanks for the reply.

Could you please tell me what are the facts on which conversion rate is decided.

It would be more helpful to understand if you give me an example as well .

Thanks & Regards
Jitendra

Hitender Gaur

Hitender Gaur (Expert)

31 December 2010 Foreign currency Value held with your nation, Export orders with you, import orders from you side (in value), Economy groth %, stock of valuable matels are some elements which become inportant factor which play a big role in every day exchange rate.

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