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In April 2021, the International Accounting Standards Board (IASB) published the Exposure Draft Lack of Exchangeability. The Exposure draft proposes to add requirements to IAS 21 for an entity to determine whether a currency is exchangeable into another currency and the exchange rate to use when it is not.

At its January 2022 meeting, the IASB considered the feedback received on the Exposure Draft.

IASB® Update January 2022

In April 2021 the IASB published the Exposure Draft Lack of Exchangeability, which proposed amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates. The comment period ended in September 2021. At the January 2022 meeting the IASB discussed a summary of feedback on the Exposure Draft.

The IASB was not asked to make any decisions.

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