What is the manner in which foreign currency transactions are to be recorded.

Manual - ICDS VI : Effects of Changes in Foreign Exchange Rates

A foreign currency transaction is to be recorded on initial recognition in the reporting currency by applying to the foreign currency amount, the exchange rate (between reporting currency and foreign currency) on the transaction date or weekly/ monthly average rate (if such rates do not fluctuate significantly from actuals).

Dated: 30-8-2017