IASB issues Lack of Exchangeability (Amendments to IAS 21)

IASB has published the document Lack of Exchangeability (Amendments to IAS 21).
These amendments will require companies to apply a consistent approach in assessing whether a currency can be exchanged into another currency and, when it cannot, in determining the exchange rate to use and the disclosures to provide.
The amendments will become effective for annual reporting periods beginning on or after 1 January 2025. Early application is permitted