Foreign Exchange Loss
This query is : Resolved
01 June 2016
Date of raising bill for 20000 Dollars is 02.02.2015 at 63.23 per dollar
Date of amount received 09.04.2015 at 61.24 per dollar
When to Pass Entry of Exchange Loss.
Kindly Suggest and Thanks in Advance
Amol S Joglekar
(Expert)
01 June 2016
First let me know what was the agreement? Was the foreign company required/under obligation to pay in dollars (say $20,000 as in your example) OR INR1,264,600 (i.e. USD20,000@63.23)?
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