You do not need separate EDFs for dollar, euro and pound invoices: one EDF covers all your service exports for the month, and each invoice keeps its own currency in its own Part 2B row. The only place everything is combined is field 1.22, the total value in Indian rupees, so each row must be converted at a consistent rate before you add them up. Never add dollars, euros and pounds together as if they were one currency.
Key takeaways
- One EDF per month covers every service invoice, whatever the currency, to one or more recipients.
- Each Part 2B row shows its own currency, invoice amount and net realisable value in that currency.
- Field 1.22 is the only combined figure, in rupees, built by converting each row at your chosen rate.
- Keep a working sheet with per-currency subtotals and the rates used; it makes review and reconciliation far easier.
- Rupee invoices can sit on the same EDF, but the Part 4 declaration and realisation window need extra care.
How the form handles several currencies
Part 2B of the EDF is a table with one row per invoice. Among its columns are currency, amount and net realisable value (NRV). That design is what makes multi-currency months simple: a USD invoice is entered in USD, a EUR invoice in EUR, a GBP invoice in GBP. Nothing in Part 2B needs to be converted.
Our walkthrough of Part 2B, column by column explains each field. For multi-currency exporters, the columns that matter most are currency, amount and NRV, because they must all be in the same currency for any given row.
Part 1 is where the month comes together. Field 1.22 asks for the total value in INR, in figures and words. That number is the sum of each row converted to rupees.
Building field 1.22 correctly
The safest method is a short working sheet, kept with your EDF, that shows each invoice, its currency, the rate used and the rupee equivalent. Here is how it looks for a typical month.
| Invoice | Client country | Currency | Amount | Rate used (book rate) | Rupee value |
|---|---|---|---|---|---|
| TR/310 | United States | USD | 8,400 | 88.20 | ₹7,40,880 |
| TR/311 | United States | USD | 2,150 | 88.40 | ₹1,90,060 |
| TR/312 | Germany | EUR | 5,600 | 95.10 | ₹5,32,560 |
| TR/313 | Ireland | EUR | 1,300 | 95.30 | ₹1,23,890 |
| TR/314 | United Kingdom | GBP | 3,750 | 112.40 | ₹4,21,500 |
| Total | ₹20,08,890 |
The rates here are illustrative, and each one is the rate recorded in the books on that invoice's date, so two USD invoices on different dates carry slightly different rates. Field 1.22 reads ₹20,08,890, with the words version alongside; our amount in words converter handles the lakh and crore wording.
Which rate to use is a separate question, covered in our guide to the EDF total value in rupees. The short version: use the rate your books use, apply it every month, and confirm with your bank whether it has a preference.
Per-currency subtotals: your best check
Before signing, total each currency separately. For the month above: USD 10,550, EUR 6,900 and GBP 3,750. These subtotals do not go on the form, but they help in three ways.
First, they let you check Part 2B quickly against your sales ledger, which usually reports by currency. Second, if you send a covering letter, listing currency subtotals helps the bank cross-check. Third, when payments arrive, you can see at a glance which currency balances are still open.
NRV in each currency
Net realisable value is what you expect to actually realise for each invoice. For multi-currency exporters, charges vary by currency and route. A USD wire may lose a fixed intermediary fee, a EUR payment through a provider may lose a percentage, and a GBP transfer may arrive in full.
State each row's NRV in that row's currency. If you expect EUR 25 to be deducted from a EUR 1,300 invoice, the NRV is EUR 1,275, not a rupee figure and not a dollar figure. Keep the basis for any deduction on file.
When rupee invoices join the mix
Some exporters also bill certain clients in Indian rupees. Those invoices can sit on the same EDF as separate rows with INR in the currency column. Two things change for them: the realisation window is 12 months instead of 9, and the Part 4 declaration offers a "foreign exchange / Indian Rupees" choice that a single strike-out cannot cover for both kinds of invoice. Ask your bank how it wants a mixed month presented.
When the client pays in a different currency
Occasionally a client invoiced in EUR pays in USD, or a GBP invoice is settled in EUR. The EDF row stays as invoiced, because it records the invoice. The mismatch shows up when the bank tries to match the payment, so explain it to your bank with the invoice and remittance details. Our article on clients paying in a different currency covers what to document.
A worked example: a research firm with three currencies
Tidewater Research LLP, a Kolkata market research firm, produced the five invoices in the table above in March 2027. Its March EDF, due by 30 April 2027, has five Part 2B rows, each in its own currency, and a field 1.22 total of ₹20,08,890.
In May, the German client pays TR/312 in full, and the US client pays TR/310 less USD 30 in charges, which Tidewater had anticipated in the NRV. TR/310 and TR/312 are each below ₹10 lakh at the firm's book rates, as are the other three invoices, so as they are paid they go onto Tidewater's quarterly realisation declaration. The working sheet with rates stays in the March folder, so when the auditor asks how field 1.22 was built, the answer takes thirty seconds.
This is general information, not legal or tax advice; confirm anything specific to your business with your CA or AD bank.
Frequently asked questions
Do I need a separate EDF for each currency?
No. One EDF per month covers all service exports to one or more recipients, regardless of currency. Each invoice is a separate row in Part 2B, showing its own currency.
Should I convert Part 2B amounts into rupees?
No. Part 2B records each invoice in the currency in which it was raised. Only field 1.22, the total value, is stated in rupees.
How do I calculate the rupee total for a multi-currency month?
Convert each invoice into rupees at your chosen rate, usually the book rate on the invoice date, and add the rupee values. Keep a working sheet showing each rate so the total can be checked later.
Can I use one exchange rate per currency for the whole month?
Only if your accounting policy uses monthly average rates. If your books record each invoice at its own daily rate, use those rates on the EDF so your declaration and ledgers agree.
What if one invoice is in rupees and the rest in dollars?
Both can go on the same EDF as separate rows. The rupee invoice gets a 12-month realisation window, and you should ask your bank how it wants the Part 4 declaration presented for a mixed month.
Bottom line
Multi-currency months are simple once you remember the rule: each row stays in its own currency, and only field 1.22 is in rupees. Build your Part 2B rows and rupee total in one place with our free EDF form generator.
This guide is general information for Indian businesses, not legal or tax advice. Rules and bank processes change — confirm specifics with your AD bank or chartered accountant.