Banking
Foreign Currency Deposit — Month-End FX Revaluation
Revaluing USD deposit liabilities to JOD at the month-end closing spot rate.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| FX Revaluation Loss (P&L) | Expense (+) | 200.00 | - |
| Customer USD Deposits (JOD Equivalent) | Liability (+) | - | 200.00 |
💡 Accountant's Note
All monetary items denominated in foreign currencies are retranslated at the closing rate under IAS 21. When the USD strengthens against JOD, the liability in JOD terms increases — creating an FX loss for the bank.
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