Forward rates for currency forward for hedging
This query is : Resolved
24 April 2013
Dear Sir,
We have unexpired forward contracts which were entered in Feb-13 and have different expiry date ranging from June to Sep-13. For purpose of accounting, we need forward rates as on 31.03.13 of forward of said periods.
Banker says they can not have access to historical data. Then can anyone help how to obtain forward rate as the same is required for valuation of forward contract and then to account accordingly in books of accounts.
Thanking you.
We have unexpired forward contracts which were entered in Feb-13 and have different expiry date ranging from June to Sep-13. For purpose of accounting, we need forward rates as on 31.03.13 of forward of said periods.
Banker says they can not have access to historical data. Then can anyone help how to obtain forward rate as the same is required for valuation of forward contract and then to account accordingly in books of accounts.
Thanking you.
19 May 2013
If you are preparing your Balance Sheet then take the rate as on 31st March, 2013 and adjust the difference accordingly. The Banker is correct.
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