• 16 March 2022 - 15:22
  • News Code: 131355
نرخ ارز

In a circular to banking network, central bank announced Conversion rate of monetary assets and currency debts for financial reporting at the end of 1400 fiscal year.

IBENA- According to Public Relations of Central Bank, the bank determined Conversion rate monetary assets and currency debts for banks and non-bank credit institutions for financial reporting by the end of 1400 fiscal year equivalent to 220 thousands Rials per euro and 200 thousands Rials per dollar.

Accordingly, in case of other Conversions, it should be determined on basis of its exchange rate in euros at the end of March 1400. Also, according to notification circular, profit (loss) resulting from conversion of monetary assets and currency debts will be transferred to profit and loss account of period at the end of fiscal year.

If heading residue of the 'accumulated profit and loss account' of bank and non-banking credit institution represents profits before allocation of reserves, the profit is not considered as distributable profit up to amount of conversion profit (after removing possible taxes) and should be spent on increasing investments of that bank and non-bank credit institution.Meanwhile, if heading residue represents losses, benefit from of Conversion of assets and currency debts will only be reduced losses.
In addition, other notification criteria in Circular No. 450508/98 dated 28/12/2012 remain in force.


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