what should the closing rate for foreign currency
1) the last rate company purchase the hard currency (if two months ago-normally from black market)
or
2) the last rate on black market (if the company did not purchase by it)
Ask the Tutor ACCA SBR
Closing rate on balance sheet
11y ago#1Wow, that's a new one on me - never had THAT question before and don't really know how to answer it.
I suppose I should get on my ethical high horse and ask what you are doing being associated with a company that deals with and hence encourages black markets and corresponding illegalities.
In fact, I'm going to leave it at that -never having had anything to do with black markets, I simply do not know the answer to your post
Sorry. :-(
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