Question about treatment of currency loss on a foreign CD

I opened a CD in India which has a maturity period of 5 years. The interest compounds quarterly. I will not get any actual distribution from the CD till the 5 years are up. I have been paying tax on the interest income accrued each year. In 2018, the Indian currency weakened quite a bit. I have this question:
I am wondering if I am eligible to offset the interest income by this 'loss' in currency rate. If the currency moved in my favor, this would result in a gain that would need to reported similarly. I searched for this topic online and am getting conflicting results. For example, in this post, the author suggests that it is possible to include a negative income related to loss on currency exchange: https://ttlc.intuit.com/questions/4397515-hi-i-ve-bought-a-certificate-of-deposit-in-a-foreign-account-and-had-losses-due-to-currency-devaluation-during-the-time-i-held-it-can-i-report-this-as-a-capital-loss. However, another user claims that this is not allowed: https://ttlc.intuit.com/questions/4502604-repatriated-my-foreign-cd-but-lost-30-of-the-principal-due-to-foreign-exchange-conversion-during-repatriation-rupee-to-how-to-claim-a-loss-on-this-investment.
Yet another user thinks this loss can be reported as Section 988 loss: http://robergtaxsolutions.com/2012/02/how-to-report-your-foreign-bank-interest-on-your-us-income-tax-return/
Please advise. Thanks
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On 4/14/19 9:46 PM, John Bliss wrote:

I believe Example 10 in the Sec. 988 regulations is applicable here. Reg. 1.988-2. You start with the amount you paid for the CD converted from Rupees to $. Each year you compute the Rupee OID and convert it to $ OID based on the applicable exchange rate. You then add those $ you declared as income to the price you paid plus previous OID. At maturity, you convert the proceeds into $ and compare that to your adjusted basis (what you paid plus the accumulated OID). That will give you a gain or loss.
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