Person must have experience as IB in various offshore companies working in INDIA/new bees are also welcome.

Answer
I ran a data center in India but no longer have a passport :(

How do people figure out the currency exchange rate?

Seriously? How do they figure this out?
I calculated the currency exchange for a bag of chips in India which were for 10 rupees, and that was like 21 cents in the USA. Let me just say that the potato chips bag was medium sized.

Answer
Like many other things in economics, supply and demand of the foreign currency will determine the exchange rate in the foreign exchange market (or the equilibrium, aka the spot exchange rate). Supply and demand are constantly fluctuating which is why the spot exchange rate (equilibrium in the ForEx market) is always fluctuating.
So, it's not people that figure out the exchange rate, it's the foreign exchange market :)