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Lack of Exchangeability (Possible Amendments to IAS 21) [Research]

Next steps:

The IASB will continue its discussion of this issue at a future meeting

Last updated:

November 2019


At its meeting on November 20, 2019, the IASB discussed a recommendation from the IFRS Interpretations Committee (IFRIC) to undertake narrow-scope standard-setting on the spot exchange rate an entity uses when exchangeability between two currencies is lacking.

The Board agreed with the IFRIC’s recommendation and tentatively decided to undertake narrow-scope standard-setting on this matter. The Board also discussed the IFRIC’s recommendations regarding how to amend IAS 21 in this respect.  In particular, the Board discussed the Committee’s analysis and recommendations on how to: (i) define exchangeability and, thus, a lack of exchangeability; and (ii) determine the spot exchange rate when exchangeability is lacking.

Other developments

November 2019

At its meeting on November 20, 2019, the IASB added this pro­ject to its work plan.


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