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Manual - ICDS VI : Effects of Changes in Foreign Exchange Rates
A foreign currency transaction is to be recorded on initial recognition in the reporting currency by applying to the foreign currency amount, the exchange rate (between reporting currency and foreign currency) on the transaction date or weekly/ monthly average rate (if such rates do not fluctuate significantly from actuals).
Foreign currency transaction recording: use transaction-date exchange rate or a stable weekly/monthly average when fluctuations are insignificant. Under ICDS VI, a foreign currency transaction must be initially recorded in the reporting currency using the exchange rate on the transaction date; if rates do not fluctuate significantly from actuals, a weekly or monthly average rate may be used instead.
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