Exchange rate rules for capital gains computation set conversion and reconversion methods for non-resident transfers of Indian company securities. Prescribes the exchange rates for computing capital gains on transfer of shares or debentures of an Indian company by a non-resident assessee. The cost of acquisition, transfer-related expenditure, and consideration are converted using the average of the telegraphic transfer buying and selling rates of the foreign currency initially used to buy the asset, on the relevant acquisition or transfer date. Capital gains computed in foreign currency are reconverted into rupees at the telegraphic transfer buying rate on the date of transfer. The expressions telegraphic transfer buying rate and telegraphic transfer selling rate are defined by reference to the rules and the State Bank of India rate.