Artículo 60M. IAS 21 Paragraph 60M

In applying Lack of Exchangeability , an entity shall not restate comparative information. Instead: (a) when the entity reports foreign currency transactions in its functional currency , and, at the date of initial application, concludes that its functional currency is not exchangeable into the foreign currency or, if applicable, concludes that the foreign currency is not exchangeable into its functional currency, the entity shall, at the date of initial application: (i) translate affected foreign currency monetary items , and non-monetary items measured at fair value in a foreign currency, using the estimated spot exchange rate at that date; and (ii) recognise any effect of initially applying the amendments as an adjustment to the opening balance of retained earnings. (b) when the entity uses a presentation currency other than its functional currency, or translates the results and financial position of a foreign operation , and, at the date of initial application, concludes that its functional currency (or the foreign operation’s functional currency) is not exchangeable into its presentation currency or, if applicable, concludes that its presentation currency is not exchangeable into its functional currency (or the foreign operation’s functional currency), the entity shall, at the date of initial application: (i) translate affected assets and liabilities using the estimated spot exchange rate at that date; (ii) translate affected equity items using the estimated spot exchange rate at that date if the entity’s functional currency is hyperinflationary [ Refer: IAS 29 paragraphs 2⁠–⁠3 ] ; and (iii) recognise any effect of initially applying the amendments as an adjustment to the cumulative amount of translation differences—accumulated in a separate component of equity. [ Refer: Basis for Conclusions paragraphs BC63⁠–⁠BC65 ]