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Former Member
Jan 21, 2011 at 12:00 PM

Currency Coversion from LC to INR and then to USD

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Hi Experts,

We have a typical Organizational structure where one Indian holding company have many foreign branches and subsidiaries and which in turn is a subsidiary of another US company.

Now for USGAAP reporting first we need to translate all branches and subsidiary of the Indian company into INR and then convert this INR values to USD for consolidation with US holding company.

The translation setup that I have done translates LC data to INR and USD but how can I translate data from INR to USD. Should I create two separate applications for Indian company and US company. Translate Indian company's subsidiary data to INR and transfer these data to another application as LC and translate them to USD. Please suggest a suitable approach to this.