Rate of exchange to be used for reimbursement of foreign tra
This query is : Resolved
Sonal Kulshreshtha
(Querist)
19 July 2010
The staff is going out for foreign travel and they withdraw foreign currency from ATMs and make cash payments. The period of travel is around 15-20 days. So what rate of exchange should be taken to reimburse them. Can I take the average rate of the number of days they were out on foreign travel? or there is any other way out?
Shudhanshu Agrawal
(Expert)
19 July 2010
If possible then take the rate on the date of withdrawl. But if it is not possible then you can also consider average date as AS 11 allow it.
19 July 2010
agreed with experts.
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