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Manual - ICDS IX : Borrowing Costs
Borrowing costs under ICDS IX does not include exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to interest costs. ICDS VI deals with effects of changes in foreign exchange rates, and would therefore apply even to fluctuations in foreign exchange rates in respect of such interest.
Exchange differences excluded from borrowing costs under ICDS IX; foreign exchange effects governed by ICDS VI. Exchange differences from foreign currency borrowings that are treated as adjustments to interest are excluded from borrowing costs under ICDS IX; the effects of changes in foreign exchange rates, including those relating to interest, are governed by ICDS VI.
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