Foreign currency translation definition

Foreign currency translation. The accounting records of the Company are maintained in United States dollars. Monetary assets and liabilities in a foreign currency are translated into United States dollars at the prevailing rates of exchange at year end. Revenue receipts and expense payments are translated into United States dollars at the prevailing exchange rate on the respective dates of transactions. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84. All amounts are CI Dollars (‘000) unless otherwise noted.
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Foreign currency translation means the period-over-period impact of foreign currency translation, which is calculated by applying current-year foreign exchange rates to the various functional currencies in our business to our reporting currency of US dollars for the same period in the prior year.
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Foreign currency translation. The accounting records of the Company are maintained in United States dollars. The Budget has been prepared in Cayman Islands Dollars. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84.
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Examples of Foreign currency translation in a sentence

  • Fixed assets, other than land, are depreciated by the straight-line method at the following rates estimated to write off the cost of the assets over their expected useful lives: Buildings, Runways, Apron, Car Parks (20 – 40 years) Other Assets (4 – 10 years) Foreign currency translation Assets and liabilities denominated in currencies other than Cayman Islands dollars are translated at exchange rates in effect at the balance sheet dates.


More Definitions of Foreign currency translation

Foreign currency translation using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financials statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
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Foreign currency translation. Balance sheet accounts are translated at the exchange rate in effect at each year-end and income accounts are translated at the average rates of exchange prevailing during the year. The national currencies of the foreign companies are generally the functional currencies. Gains 32 ITT INDUSTRIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) DOLLARS IN MILLIONS, EXCEPT PER SHARE, UNLESS OTHERWISE STATED (losses) from foreign currency transactions are reported currently in other operating expenses and were $(4), $4, and $8 in 1995, 1994, and 1993, respectively.
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Foreign currency translation means the difference of exchange rates resulting from translation of financial statements denominated in foreign currency of foreign operations. Foreign operations are subsidiaries, associates, joint ventures or branches of a reporting bank, where there are activities or businesses in other countries or currencies than that of the reporting bank. This shall be in accordance with relevant accounting standards and financial reporting standards.
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Foreign currency translation shall not be taken into account in calculating Consolidated Net Worth.
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Related to Foreign currency translation

  • Foreign Currency means any currency other than the currency of Kenya;

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Currency Pair means the object or Underlying Asset of a CFD Transaction based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Agreed Foreign Currency means, at any time, (i) any of Canadian Dollars, English Pounds Sterling, Euros, Japanese Yen, Australian Dollars, Swiss Franc, Swedish Krona and New Zealand Dollars, and (ii) with the agreement of each Multicurrency Lender, any other Foreign Currency, so long as, in respect of any such specified Foreign Currency or other Foreign Currency, at such time (a) such Foreign Currency is dealt with in the London interbank deposit market, (b) such Foreign Currency is freely transferable and convertible into Dollars in the London foreign exchange market or the relevant local market, if applicable, and (c) no central bank or other governmental authorization in the country of issue of such Foreign Currency (including, in the case of the Euro, any authorization by the European Central Bank) is required to permit use of such Foreign Currency by any Multicurrency Lender for making any Loan hereunder and/or to permit the Borrower to borrow and repay the principal thereof and to pay the interest thereon, unless such authorization has been obtained and is in full force and effect.

  • Foreign Currencies means Agreed Currencies other than Dollars.

  • Foreign Currency Sublimit means $100,000,000.

  • Currency means Dollars or any Foreign Currency.

  • Dollar Equivalent of the Foreign Currency has the meaning specified in Section 312(f).

  • Alternative Currency Term Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Balance Currency means the currency under which the trading account has the reference on and with which the Client buys or sells the subject matter instruments. It is noted that the all charges including Spreads, Commissions, Charges and Swaps are calculated in the Balance Currency.

  • Base Currency Amount means, in relation to a Loan, the amount specified in the Utilisation Request delivered by a Borrower for that Loan (or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the date the Agent receives the Utilisation Request) adjusted to reflect any repayment or prepayment of the Loan.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.