The European Commission has endorsed the Amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability, and this update is now reflected in the EFRAG Endorsement Status Report.
The Amendments to IAS 21 specify the conditions under which a currency is exchangeable into another currency. They also provide guidance on determining the exchange rate to apply when a currency is not exchangeable and outline the necessary disclosures for entities in such situations.
The Amendments are effective for annual periods beginning on or after 1 January 2025.
For more information [here]