Exchange gain/loss entry and accounting

Exchange rate or rate difference to take while passing the entry for forex gain or loss is as follows:

First , you need to calculate the amount that would be receivable ie.,

you are having the export sales rate and rate as per FIRC.

Now, you calculate the amount receivable ie, forex amount you have received as per FIRC multiply with the export rate of that particular export against which you had received the amount.

Second, take the difference between the amount received and amount receivable

this gives you the amount of forex gain or loss for which you have to pass the entries.