For Imported and exported Goods which of these authorities determines the rate of exchange of conver...........

Economic Affairs Others

For Imported and exported Goods, which of these authorities determines the rate of exchange of conversion of Australian Dollar currency to Indian currency?

Trade Division, Reserve Bank of India

Secretary, Department of Commerce

Central Board of Excise and Customs

It is an entirely market determined rate

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Explanation:

India follows a managed exchange rate system where currency exchange rate is market determined by occasional interventions from RBI. However, there are certain cases where the Customs Act, 1962 and associated notifications grant the CBEC the power to determine exchange rates of certain currencies for e.g. Bahrain Dinar, Canadian Dollar.