Exchange revaluation
This query is : Resolved
24 May 2012
Dear sir,
1)I want to revalued my account as on 31.3.2012 ( as per as-11 ) for my overseas debtor & creditor , my question is
In last year my auditor has done the revaluation of debtor & creditor on 31.3.2011 but the rate which he used for revaluation was different for debtor i.e (Rs.45.23 for 1 USD ) & creditor (Rs.44.20 for 1 USD)
So my query is shall I take this two different rates for this year also or shall I used only one rate as on 31.3.2012 which is rs. 50.35 equivalent to 1 USD as per HSBC BANK
If I used the different rates, how will I find these rate
Please help
1)I want to revalued my account as on 31.3.2012 ( as per as-11 ) for my overseas debtor & creditor , my question is
In last year my auditor has done the revaluation of debtor & creditor on 31.3.2011 but the rate which he used for revaluation was different for debtor i.e (Rs.45.23 for 1 USD ) & creditor (Rs.44.20 for 1 USD)
So my query is shall I take this two different rates for this year also or shall I used only one rate as on 31.3.2012 which is rs. 50.35 equivalent to 1 USD as per HSBC BANK
If I used the different rates, how will I find these rate
Please help
25 May 2012
RBI's TT Buying Rate for Debitor - logic - the amount received from Debitors we will sell to RBI & RBI will by the Foreign currency.
RBI's TT Selling Rate for Creditor outstanding Payments as we will have to buy the foreign currency from RBI at TT Selling Rate.
RBI's TT Selling Rate for Creditor outstanding Payments as we will have to buy the foreign currency from RBI at TT Selling Rate.
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