The instrument operates to specify foreign currencies for the purposes of paragraph 5.36(1A)(a) of the Regulations, as well as their relevant exchange rate in relation to the Australian Dollar. The currencies’ corresponding International Organization for Standardization (ISO) code has also been noted in the instrument. The instrument assists in working out the amount of a payment of a fee, as defined in subregulation 5.36(4) of the Regulations (other than a visa application charge payment to which subregulation 5.36(3A) of the Regulations applies).
The purpose of the instrument is to undertake a biannual update of the foreign currency exchange rates.
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