What is the Common Practise of Direct/Indirect Exchge Rate for USD LC in SG

Dear Experts,
I am from Singapore and I have customer wants to have local currency in USD Currency, because they have 80% of business transactions are in USD.
If customer chooses to have local currency which is different with the stay country currency, what should be the suitable Exchange Rate Posting? Direct or Indirect?
The issue here is when customer gets exchange rate from Bank, Bank will provide them "Direct exchange rate" from Bank's perspective. This "Direct Exchange Rate" is actually Indirect for customer because customer is using USD as LC.
What is common practise in this type of scenario?
Thanks.
Regards,
Lay Chin

Hi Lay Chin,
the application uses LC for everything, including exchange rate calculations, reconciliations etc & all financial reporting, including tax, P&L, balance sheet etc. Is it allowed in Singapore to submit such reports in a currency different from the official currency of the country?
Please note that you will not be able to change the LC/SC setting of the database once you have transactions &/or have exchange rates defined.
Even though most of the trading is done in USD, wouldn't your customer be happy with having the correct currency as LC & use USD as SC?
All the best,
Kerstin

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