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- Mon Apr 05, 2010 1:44 am
- Forum: Bookkeepers help
- Topic: How to record a foreign currency transaction in bookkeeping
- Replies: 5
- Views: 43772
Re: How to record a foreign currency transaction in bookkeeping
If we are paying such a payable through our funds in foreign currency bank a/c (eg. TT or Bank draft), what exchange rate i should use to record the transaction in my reporting? As your eg. invoice USD $1000. Spot exchange rates Buying- 1.09148 Selling- 1.12148 Can i use bank selling rate to convert...