Foreign Exchange Gain & Loss Calculator (Realised and Unrealised, IAS 21)
Realised gains on settlements, unrealised at the period end, and the journals.
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Your books
Rupee books, a 1 April to 31 March year. Use the rate your policy names — the RBI reference rate, your bank’s rate or SBI’s TT rates — and keep to it. Companies on Ind AS follow Ind AS 21; others AS 11.
Your items are kept in this browser on this device; nothing is uploaded.
Item
Items
Closing rates at the period end
Your currency for 1 unit of each currency, on the period end. Leave one empty to skip its revaluation.
Work out a cross rate from two rates against a third currency
For example, the ECB publishes 1 EUR in USD and in INR: the USD rate in INR is the INR figure ÷ the USD figure.
Exchange gains and losses
Monetary and non-monetary items
Monetary items — cash and bank balances, receivables, payables and loans to be received or paid in a fixed or determinable number of units of currency — are translated at the closing rate at each period end, and their exchange differences go to profit or loss. Non-monetary items — advances paid or received for goods or services, inventories, property and equipment, and investments in equity — stay at the rate of the transaction date and are not revalued, so they are not entered here.
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Results are estimates for general information and planning, not financial advice. Banks and institutions may calculate differently (rounding, fees, rate changes). Confirm figures with your lender or a qualified adviser before deciding.
How this tool is checked
- Based on
- the method set out under ‘How the gains and losses are worked out’.
- Sources
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This guide lists 4 sources under ‘Sources’, among them:
- Tests
- 22 automated tests check its results.
- Found an error?
- Report a problem or write to support@mysmartcopilot.com, with what you entered and the result you expected.
About the Foreign Exchange Gain & Loss Calculator (Realised and Unrealised, IAS 21)
List the foreign-currency items in your books — sales invoices, purchase bills, loans given or taken and foreign-currency bank balances — with the date, the currency, the amount and the rate they were booked at, and add each settlement, in full or in part, with its date, amount and rate. The calculator works out the realised exchange gain or loss on every settlement and, at the period end you choose, the unrealised gain or loss of what is still open, translated at the closing rate — the way IAS 21 and Ind AS 21 (and AS 11) treat monetary items.
You get the journal entries for both: each settlement with its exchange difference, the period-end revaluation, and its reversal on the first day of the next period (or, if your books keep the revalued amount, the revaluation carried forward instead). Results are grouped by customer or supplier and currency and by currency, and with a pass they download as Excel and PDF working papers. Rates are typed in: your bank’s rate, the RBI reference rate, SBI TT rates or any rate your policy uses; a cross-rate helper turns two rates against a third currency (such as the ECB’s euro rates) into the one you need.
Without a pass the free preview shows the realised gain or loss on up to 5 items; a Premium pass adds every item, the period-end revaluation, the totals, the journals and the exports. Everything is worked out in your browser; your items stay on this device unless you save them to a file.
How to use it
- Choose the functional currency (the currency of your books), the first day of the period and the period end for the revaluation, and how your books carry a revaluation: reversed the next day, or kept. In India, India preset sets rupees and a 1 April to 31 March year.
- Add each item — Add an item, or Import CSV or Excel with one row per item and one per settlement, joined by the reference (download the template) — with its booking rate: how much of your currency one unit of its currency was worth that day.
- Add the settlements of each item: the date, the amount settled and the rate that day. A partial settlement leaves the rest open.
- Enter the closing rate of each currency at the period end. For a rate quoted against a third currency, use the cross-rate helper.
- Read the realised results on each settlement; with a pass, read the revaluation, the totals by party and currency, and the journals.
- Download the Excel or PDF working papers or copy the summary: these exports unlock with a Premium pass. Save file keeps your own items and rates to open here later.
Examples
USD 10,000 booked at 83.10 · 4,000 received at 83.55 · 3,000 received at 83.20 · closing rate 83.40
Receipt 1: 4,000 × (83.55 − 83.10) = ₹1,800.00 gain Receipt 2: 3,000 × (83.20 − 83.10) = ₹300.00 gain Open USD 3,000 revalued: 3,000 × (83.40 − 83.10) = ₹900.00 unrealised gain, reversed the next day
EUR 5,000 booked at 90.05 · paid in full at 89.40
Paid ₹4,47,000.00 for a bill booked at ₹4,50,250.00: a realised gain of ₹3,250.00
For a liability a stronger foreign currency is a loss and a weaker one a gain.
USD 50,000 at 82.80 · 10,000 repaid at 83.30 · closing rate 83.40
Realised loss ₹5,000.00 · USD 40,000 open revalued from ₹33,12,000.00 to ₹33,36,000.00: unrealised loss ₹24,000.00
Common uses
- Month-end or year-end revaluation of foreign-currency debtors, creditors, loans and bank balances.
- Working out the exchange gain or loss on each export receipt or import payment.
- Preparing the journal entries and an audit working paper for the exchange differences.
- Checking the exchange gain or loss your accounting software posted.
How the gains and losses are worked out
- Booking: a foreign-currency item is recorded at the spot rate on the date of the transaction (Ind AS 21 paragraph 21; a weekly or monthly average may be used when rates do not move much, paragraph 22).
- Realised: when an amount is settled, the difference between that amount at the settlement rate and at the rate it is carried at is an exchange gain or loss in profit or loss (paragraph 28). On a receivable, a loan given or a bank balance a higher rate is a gain; on a payable or a loan taken it is a loss.
- Unrealised: at the end of each reporting period, foreign-currency monetary items are translated at the closing rate (paragraph 23), and the difference from their carrying amount goes to profit or loss too.
Each side of an entry is rounded to the smallest unit of your currency and the gain or loss is their difference, so every journal balances.
Reversed the next day, or carried forward
Most accounting systems post the period-end revaluation and reverse it on the first day of the next period: the item stays at its booking rate, and a later settlement realises the whole difference from the booking rate, which the reversal offsets. Other books keep the revalued amount: the next settlement and revaluation start from the closing rate. Either way the profit or loss of each period is the same — the change in the rate during that period (Ind AS 21 paragraph 29, for a transaction settled in a later period). For an item open at the last period end, enter the rate it was revalued at: the tool then reverses that revaluation at the start of the period, or carries the item from it.
Monetary and non-monetary items
Only monetary items are revalued: the essential feature is a right to receive, or an obligation to deliver, a fixed or determinable number of units of currency (Ind AS 21 paragraph 16) — cash, bank balances, receivables, payables and loans. Non-monetary items — advances paid or received for goods or services, inventories, property and equipment, equity investments — stay at the rate of the transaction date. An advance in foreign currency fixes the rate for the goods, service or revenue it is for (Ind AS 21 Appendix B), so enter only what is still to be received or paid in currency.
India: Ind AS 21, AS 11 and income-tax
Companies on Indian Accounting Standards follow Ind AS 21; others follow AS 11, whose rules for monetary items are the same — the rate of the transaction date at recognition (paragraph 9), the closing rate at each balance-sheet date (paragraph 11) and the differences as income or expenses in the period they arise (paragraph 13). AS 11 also lets an entity that chose it carry exchange differences on long-term foreign-currency monetary items to the cost of a depreciable asset or to a translation difference account (paragraphs 46 and 46A); this tool does not apply that option. For income-tax, section 43 of the Income-tax Act, 2025 treats a gain or loss from a change in exchange rates on foreign currency transactions as income or loss, computed under the income computation and disclosure standards; have your tax adviser confirm the rates and the treatment for the return.
Sources
- IFRS Foundation: IAS 21 The Effects of Changes in Foreign Exchange Rates
- ICAI: Ind AS 21 The Effects of Changes in Foreign Exchange Rates
- ICAI: AS 11 The Effects of Changes in Foreign Exchange Rates
- The Income-tax Act, 2025 — section 43, gains and losses from changes in foreign exchange rates
Limitations
- Rates are typed in: the page does not fetch rates for you. Use the rate your accounting policy and auditor accept.
- Monetary items only. Advances, inventories, fixed assets and equity investments are not revalued, and hedge accounting, forward contracts, net investments in foreign operations and the translation of a foreign operation’s accounts are not covered.
- One period end at a time; earlier settlements are realised against the booking rate.
- The AS 11 option for long-term foreign-currency monetary items (paragraphs 46 and 46A) is not applied.
- The accounting treatment depends on your standards and facts, so have an accountant review the entries.
Privacy
On this device; its files download once
Everything happens in your browser. What you enter or open here is not uploaded or stored by MySmartCoPilot. Loads the spreadsheet reader, the Excel writer and the PDF engine from this site the first time they are needed. Your items and rates never leave this browser.
Frequently asked questions
What do I get without a pass?
Without a pass, Foreign Exchange Gain & Loss Calculator (Realised and Unrealised, IAS 21) shows the realised gain or loss on up to 5 items; the period-end revaluation, the totals, the journal entries and the Excel and PDF exports are locked. Until you unlock it, the result can’t be downloaded or copied. A Premium or Ultimate pass, a one-time payment that never renews, unlocks the full result. The pricing page lists the passes and their prices.
How do I calculate the realised gain or loss on a foreign-currency invoice?
Multiply the amount received by the rate on the day you received it, and subtract the same amount at the rate you booked the invoice at. USD 4,000 received at 83.55 on an invoice booked at 83.10 gives 4,000 × 0.45 = ₹1,800 gain. For a bill you pay, a higher rate means you paid more: a loss.
What is an unrealised exchange gain?
The gain on an amount still open at the period end, from translating it at the closing rate instead of the rate it is carried at. It is recognised in profit or loss for the period, even though no cash has moved yet.
Why reverse the revaluation on the first day of the next period?
So the item goes back to its booking rate, and the settlement later realises the full difference from it. Without the reversal the books carry the revalued amount and the settlement realises only the change since the period end. Both give the same profit or loss in each period; the tool does either.
Which exchange rate should I use?
For booking, the spot rate on the date of the transaction (or a close average when rates are stable); for the revaluation, the closing rate at the period end. Many Indian companies use the RBI reference rate or their bank’s rate; follow your accounting policy and apply it consistently.
Are advances revalued?
No. An advance paid or received for goods or services is a non-monetary item: it stays at the rate of the day it was paid or received, and that rate is used for the related purchase or sale. Enter only the amounts still to be settled in currency.
Do I need a pass?
For every item, the revaluation, the journals and the exports, yes: a Premium pass unlocks every Premium tool. Without a pass you see a free preview: the realised gain or loss on up to 5 items.