R12 FX Fowards Revaluation according IAS 39

Hello Prem

My Customer have several FX Forwards contracts and he needs to recognise the changes in the forward element temporarily in OCI.

This is the Oracle revaluation formula :

=Forward Rate (bid) = Spot Rate, bid * (1 + (Interest Rate, quoted currency bid * Day Count) / (100*Annual Basis, quoted currency)) /

(1 + (Interest Rate, base currency offer * Day Count) / (100*annual basis, base currency))

=Forward Rate (offer) = Spot Rate, offer * (1 + (Interest Rate, quoted currency offer * Day Count) / (100*Annual Basis, quoted currency)) /

(1 + (Interest Rate, base currency bid * Day Count) / (100*annual basis, base currency))

The market data set associated with the FX Forward deal (or the default market data set) is used for the getting the FX Spot rates / interest rates for the two currencies involved in the deal. Interest rates are determined from the Yield Curves of both currencies in the Market Data Set.