Currency Translator supports FASB 52, so fluctuations in the exchange rates are recorded as equity, not income. If you are modeling a company in a country with high inflation and the parent company is in a country with low inflation, remeasure the company financial statements before translation.
After remeasuring, you can translate all financial statements using one exchange rate: Currency Translator will not calculate the income effect. This is useful for companies presenting last year's financial data based on the current year's currency.