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Former Member
Mar 29, 2011 at 05:58 AM

Venezuela SITMAE Exchange rate-Dual exchange rate for imports

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Hello,

Venezuela business wants to maintain dual exchange rates for import of goods. Business would like to use either of the rates "M" rate or new rate "SITMAE" subject to Govt. direction.Business wants the flexibility to change PO every time with either of the rates. There inventories will be maintaind at local currency ,but Payables (GR/IR) during GR should be valued at the new rate.

Has anyone worked on this?

Regards

Rajesh