Creating currency exchange rates

A currency exchange rate is the amount by which a source currency in a currency relationship is multiplied or divided to convert to the target currency. A currency exchange rate can be defined only for an existing currency relationship.

A currency rate is defined for a specific enterprise group.

A currency rate is in effect from the date for it is defined until a new currency rate is specified. You can specify up to one exchange rate per day.

Note: Currency exchange rates are defined as currency daily rates in Infor Financials and Supply Management. For systems that are configured with Financials and Supply Management and HR Payroll, the finance enterprise group and currency data are created and maintained in Financials and Supply Management. See the Infor HR Talent Configuration Guide for information about configuring shared data with Financials and Supply Management.
  1. Select Administrator > Set Up > Prerequisites > Currency > Currency Rate Tables.
  2. Open the table for which to create an exchange rate.
  3. On the Daily Rates tab, click Create.
  4. Specify this information:
    Finance Enterprise Group
    Select the finance enterprise group for the rate type.
    Currency Rate Table
    Select the currency rate table for which to create an exchange rate.
    From Currency
    Select the From Currency in the currency relationship for which to create a rate.

    You cannot add a rate for an undefined currency relationship.

    To Currency
    Select the To Currency in the currency relationship for which to define a rate.

    You cannot add a rate for an undefined currency relationship.

    Exchange Date
    Specify the date on which the rate takes effect. The rate remains in effect until a rate is specified for a later date.
    Rate
    Specify the exchange rate for the relationship and effective date. Take into account whether the currency relationship requires that the From Currency amount is multiplied or divided by the currency exchange rate to convert to the To Currency amount.

    Example: The current rate of exchange between the euro and the US dollar is:

    1 EUR = 1.348750 USD

    or

    1 USD = 0.741427 EUR

    Assume you defined a EUR to USD relationship:

    • If you defined a Multiply relationship, specify 1.348750 as the exchange rate.
    • If you defined a Divide relationship, specify 0.741427 as the exchange rate.
  5. Click Save.