Question
WER Ltd purchased machinery for USD 20,000 on 31 October 2020 payable after 6 months. The company hedged by entering into a forward contract for 6 months at Rs.76.7 per USD. If the exchange rate on 31st October 2020 was USD 75.8 per dollar, what will be the amount recorded in P&L account in FY2020-21?
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