Devisengeldkurs

English translation: bid rate

13:26 Jul 20, 2019
German to English translations [PRO]
Bus/Financial - Accounting / foreign currency receivables/liabilities
German term or phrase: Devisengeldkurs
I am translating the notes financial statements. I have one statement: "Fremdwährungsforderungen werden zum Devisenbriefkurs ... angesetzt."

Follwed by the sentence: "Fremdwährungsverbindlichkeiten werden zum Devisengeldkurs bei Entstehung der Verbindlichkeit oder zum höheren beizulegenden Wert, unter Zugrundelegung des Devisenkassamittelkurses am Abschlussstichtag, angesetzt"

Are "Devisenbriefkurs" and the "Devisengeldkurs" more or less the same, and can I translate both with "foreign exchange offered rate" or do I need to make a distinciton?
Sanni Kruger
United Kingdom
Local time: 06:07
English translation:bid rate
Explanation:
There is a difference. Geldkurs is the bid rate, while Briefkurs is the ask rate.

Receivables denominated in foreign currency are measured at the ask rate, while DC liabilities are measured using the bid rate.

Using these different rates results in a lower valuation for receivables (compared to the bid rate, while the liabilities will have a higher value. This is required under the principle of recognizing assets at the lowest reasonable value and liabilities at the highest reasonable value.

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Note added at 21 mins (2019-07-20 13:47:31 GMT)
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Oops - DC should be "FC" = liabilities denominated in foreign currency (FC)
Selected response from:

Ted Wozniak
United States
Local time: 00:07
Grading comment
Thank you Ted and Robin, you've both helped me greatly with this.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2bid rate
Ted Wozniak
3currency buy rate
Adrian MM.


  

Answers


20 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
bid rate


Explanation:
There is a difference. Geldkurs is the bid rate, while Briefkurs is the ask rate.

Receivables denominated in foreign currency are measured at the ask rate, while DC liabilities are measured using the bid rate.

Using these different rates results in a lower valuation for receivables (compared to the bid rate, while the liabilities will have a higher value. This is required under the principle of recognizing assets at the lowest reasonable value and liabilities at the highest reasonable value.

--------------------------------------------------
Note added at 21 mins (2019-07-20 13:47:31 GMT)
--------------------------------------------------

Oops - DC should be "FC" = liabilities denominated in foreign currency (FC)

Ted Wozniak
United States
Local time: 00:07
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 750
Grading comment
Thank you Ted and Robin, you've both helped me greatly with this.

Peer comments on this answer (and responses from the answerer)
agree  RobinB: or buy(ing) rate
2 hrs

agree  Molly Howell
160 days
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1 day 21 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
currency buy rate


Explanation:
Have just picked up on this question.

Zahn: DE/EN Bank und Börsenwesen dictionary and Robin B's edit.

cf. spot exchange rate and Devisenbriefkurs: currency sell rate.


    Reference: http://www.linguee.de/englisch-deutsch/uebersetzung/spot+exc...
    Reference: http://www.travelexae.com/AE/Foreign-Currency/Rates/Online-R...
Adrian MM.
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
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