Conversion Issue

We work on 2 currencies USD default and INR secondary. I have set INR currency rate to 0.0143.
I created revenue entry with INR bank account of 70000/- which should be $1000. But it the dashboard its multiplying 70000 inr by 70 and showing a result of $4,900,000 instead it shoudl show $1000. Can you help me fix it, i am attaching screenshot of relevant entries.

http://prntscr.com/pz2h56 Currency Info
http://prntscr.com/pz2hjo Revenue Entry
http://prntscr.com/pz2hvv Bank acc info