Professional Documents
Culture Documents
February 2013
Foreign currency transactions are remeasured into the functional currency using the monthly operating
rate effective at the time of transaction. The monthly income statement of components with functional
currency other than the U.S. dollar are also translated into the U.S.dollar using the monthly operating
rate. The monthly operating rate should be obtained from the GE Treasury Homepage (/Foreign Exchange
/"Monthly" Operating Rates) - the use of exchange rates from other sources for this purpose is
unacceptable .The new methodology takes the spot exchange rate and the 30 day forward exchange rate
for each currency and calculates a 2 data point average. That average will become the MOR. This new
methodology replaces the old method which took a lagging 30 day average that was published much
earlier in the preceding month. The primary benefit of the new methodology is that the businesses will be
using a more current or "fresh" MOR than in the past, but still afford GE components with sufficient time
to download the exchange rate information into their systems for the following month's transactions.
Calculated Cross-Rates
Austria/Euro ATS/Euro 0.072673 13.7603000
Belgium/Euro BEF/Euro 0.024789 40.3399000
Finland/Euro FIM/Euro 0.168188 5.9457300
France/Euro FRF/Euro 0.152449 6.5595700
Germany/Euro DEM/Euro 0.511292 1.9558300
Greece/Euro GRD/Euro 0.002935 340.7500000
Ireland/Euro IEP/Euro 1.269738 0.7875640
Italy/Euro ITL/Euro 0.000516 1936.2700000
Luxembourg/Euro LUF/Euro 0.024789 40.3399000
Netherlands/Euro NLG/Euro 0.453780 2.2037100
Portugal/Euro PTE/Euro 0.004988 200.4820000
Spain/Euro ESP/Euro 0.006010 166.3860000
Slovenia/Euro SIT/Euro 0.004173 239.6400000
Cyprus/Euro CYP/Euro 1.708601 0.5852740
Malta/Euro MTL/Euro 2.329373 0.4293000
Slovak/Euro SKK/EUR 0.033194 30.1260000
Estonia/Euro EEK/EUR 0.063912 15.6466000