24 May 2012
Dear sir, 1)I want to revalued my account as on 31.3.2012 ( as per as-11 ) for my overseas debtor & creditor , my question is In last year my auditor has done the revaluation of debtor & creditor on 31.3.2011 but the rate which he used for revaluation was different for debtor i.e (Rs.45.23 for 1 USD ) & creditor (Rs.44.20 for 1 USD) So my query is shall I take this two different rates for this year also or shall I used only one rate as on 31.3.2012 which is rs. 50.35 equivalent to 1 USD as per HSBC BANK If I used the different rates, how will I find these rate Please help
25 May 2012
RBI's TT Buying Rate for Debitor - logic - the amount received from Debitors we will sell to RBI & RBI will by the Foreign currency. RBI's TT Selling Rate for Creditor outstanding Payments as we will have to buy the foreign currency from RBI at TT Selling Rate.
CAclubindia
