- May 22, 2021 at 4:27 pm #621457Faizahmad1009Member
- Topics: 33
- Replies: 20
I have 4 tiny questions to ask please correct me on those!
[If Foreign Currency Appreciates]
We Receive more in case of export
We Pay more in case of import
[If Foreign Currency Depreciates]
We Receive less in case of export
We Pay less in case of import
2) Is it also correct to say that if Foreign Currency Appreciates OUR Local Currency Depreciates (one currency has the corresponding effect on another currency?)
3) If we are an exporter selling goods to Foreign customer then we are receiving money from the customer in due time in Local Currency or Foreign Currency?
4) And if we are importing purchasing goods from Foreign Supplier then we are paying money to supplier in due time in Local Currency or Foreign Currency?May 23, 2021 at 10:25 am #621500John MoffatKeymaster
- Topics: 57
- Replies: 51551
1. Correct (assuming of course that the invoice amounts are in the foreign currency)
3. It depends on which currency we invoice in. We received the currency in which we sent the invoice.
4. As with 3, it depends in what currency the invoice is.
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