we have a contract for development of a fixed assets, as per the contract:-

Total Contract amount =  260 Million AED

We have to pay this amount in Euro that is already fixed as per the contract it is 4.49 AED per Euro

whatever is the rate prevailing currently doesnt matter bcoz it has been already fixed in contract,

so my concern is exchange loss on payment will be added to the value of fixed Assets or

will have to transferred to P&L A/c