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 (X) KudoZ activity Questions: 85 (1 open) (8 without valid answers) (15 closed without grading) Answers: 77 United Kingdom
Local time: 13:57

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: 07:57

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 +2

bid rate

Ted Wozniak

currency buy rate

Adrian MM.

Answers

20 mins confidence:

peer agreement (net): +2

bid rate

Ted Wozniak
United States
Local time: 07:57
Specializes in field
Native speaker of:

English
PRO pts in category: 762

Grading comment

Thank you Ted and Robin, you've both helped me greatly with this.

1 day 21 hrs confidence:

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.
Austria
Specializes in field
Native speaker of:

English
PRO pts in category: 25

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