Artículo 34. IAS 21 Paragraph 34

When an entity keeps its books and records in a currency other than its functional currency , at the time the entity prepares its financial statements all amounts are translated into the functional currency in accordance with paragraphs 20⁠–⁠26 . This produces the same amounts in the functional currency as would have occurred had the items been recorded initially in the functional currency. For example, monetary items are translated into the functional currency using the closing rate , and non‑monetary items that are measured on a historical cost basis are translated using the exchange rate at the date of the transaction [ Refer: paragraph 22 ] that resulted in their recognition.