In the IFRS, currency translation difference is equivalent to a component of the Statement of Comprehensive Income called "Foreign Currency Translation Adjustment" - its either a gain or a loss (there are also other names used). This adjustment is due to the continual fluctuations of the foreign exchange rates. Of course, it is arbitrary whether this would be a debit or credit because fluctuations in the foreign exchange could either cause a revenue or an expense. Its "partner" in the journal entry is called: "Unrealized Gain (or Loss) on Foreign Currency Translation Adjustments" which is part of the Equity section of the Balance Sheet. It also depends when and how often you update your foreign currencies, that's when the adjustment arises.