Exchange Rates overview

Exchange rates define the rate at which one currency is exchanged for another.

There are several currency types in Infor CRM CE:

• The Base currency is the currency used in the database of the organization and the default currency of the organization.
• Local currency is the currency you use, the Infor CRM CE user.
• Transaction currency is the currency used by the customer who is making the purchase or transaction.

The prices for the products associated with an Opportunity, Quote, and Sales Order are maintained in the base currency for the Infor CRM CE installation. The base currency is specified by the administrator in Master Explorer > System Administration > Audit And Integration > Office Profiles.

The CRM user can select to view prices in the local currency or the transaction currency when creating a new Opportunity, Quote or Sales Order.

When the Exchange Rate functionality is enabled, Infor CRM CE automatically converts price and extended amount values into the corresponding local currency value by applying the exchange rate for the currency specified by system administrator.