foreign currency loss
Defined in 1 place of the United States Code.
The term “foreign currency loss” means any loss from a section 988 transaction to the extent such loss does not exceed the loss realized by reason of changes in exchange rates on or after the booking date and before the payment date.
Source
- 1994–present26 U.S.C. § 988Internal Revenue Code · Treatment of certain foreign currency transactions · for purposes of this section