hi!
I have got a work around for this problem. All I had done is added a code provided by
http://www.yourcurrencyconverter.com for virtuemart. Now since paypal does not accept Indian Rupees from a buyer, you can select your default currency as US Dollar and List of accepted currencies as US Dollar for your shop. While adding prices for the products convert the price of the product to US dollar and put it in dollars. Add this magical code provided by
http://yourcurrencyconvertor.com as directed by them in their user manual for virtuemart. Thats it! the prices of the product gets displayed in both US Dollars and Indian Rupees and also you can receive the payment in US dollars at the same time maintaining the transparency between the US dollars and Indian Rupees conversion to Indian customers.
The only Problem I felt in the above process is, I have to update the prices of my products if the the dollar rate changes frequently (but it is ok, it does not make much difference) so now no more errors
"This recipient does not accept payments denominated in USD. Please contact the seller and ask him to update his payment receiving preferences to accept this currency"
Thank you Virtuemart and Joomla! the future of ecommerce...Hats off
You can view my site on
http://veditsolutions.comPlease feel free to write to me at mahesh.asher@gmail.com