# Closing rate

> Closing rate — The spot exchange rate at the balance sheet date, used to translate assets and liabilities and to remeasure monetary items.

Source: https://lopifi.com/glossary/closing-rate
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

---

**What is closing rate?** In accounting, closing rate means the spot exchange rate at the balance sheet date, used to translate assets and liabilities and to remeasure monetary items.

## Words this system refuses for it

- current rate in UI copy
- today's rate

- **Category:** Multi-entity
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** balance-sheet