IAS 21 requires that foreign currency monetary items outstanding at reporting date must be:

Question

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IAS 21 requires foreign currency monetary items to be translated into the reporting currency using the spot rate at the reporting date. This includes any outstanding foreign currency debt or receivables. Translation at settlement or transaction date is not required by the standard. Forward-exchange rate is used for non-monetary items, such as property, plant and equipment, and intangible assets.

IAS 21 Requires That Foreign Currency Monetary Items Outstanding at Reporting