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Amendments to IAS 21: Lack of Exchangeability
IAS 21 has been amended to specify how to assess whether a currency is exchangeable and how to determine a spot exchange rate if it is not.
The IASB’s amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates require disclosure of information that enables users of financial statements to understand the impact of a currency not being exchangeable.
They apply to annual reporting periods beginning on or after 1 January 2025 and can be applied earlier.