We have taken a loan in foreign currency and entered a currency swap agreement(interest & principal fixed in INR). How the accounting of this will be.
For eg. Our foreign currency cost is 10000 USD * 50 = 500000 and INR cost is 2000000 then how should we treat extra 1500000 cost. whether it will be treated currency swap cost separately or it will treated interest cost as our interest cost is fixed.
Is there different accounting standard for accounting of this type of transactions.
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