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Former Member
Feb 02, 2010 at 08:56 AM

Local exchange rates for Romanian subsidiary?

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We are using "global" exchange rates based on the rates published by the National Bank of Denmark. Now I'm told by accountants in our Romanian subsidiary that they have a legal requirement to translate using rates published by the National Bank of Romania!

I find it hard to believe that this is a real requirement?

If it is, does anybody have a suggestion how to handle this?