Foreign exchange rate
This query is : Resolved
20 April 2010
We have received advance against export usd 150000/- and now want to convert this liability into INR on 31st March 2010 at what rate should we convert it closing rate average rate, if closing rate then of which bank rbi sbi further whether it should be buying rate of selling rate. please reply thanks in advance
Pardeep Gupta
Pardeep Gupta
20 April 2010
ya on buying closing rate as it is a balance sheet item and you will sell the US dollars to bank. so its buying rate for them...
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