Creating exchange rates

  1. From the menu, select Setup > Exchange Rate.
  2. Click New.
  3. Specify this information:
    Code
    Select the currency code from the list. The values displayed are retrieved from the Currency module.
    Type
    Select an exchange rate type:
    • Actual: The current values of an exchange rate.
    • Budget: A rate set by an organization for one entire budget period.
    • Simulation: The forward rates that are expected to take place in the future.
    Exchange Rate
    Specify the exchange rate for the base currency.

    The exchange rate is the rate which the base currency is multiplied to be converted to the actual currency.

    For example, if the base currency is USD, the exchange rate for EUR is 0.78 (1 USD = 0.78 EUR).

    Note: You cannot set zero or negative exchange rates.
    Valid From
    Specify a start date to set the validity period of the exchange rate.
    Valid To
    Specify an end date to set the validity period of the exchange rate.
    Note: You cannot set up overlapping exchange rates by exchange rate type.
    Base Currency
    This field shows the currency that you define as the base currency. You cannot change the value in this field.
    Status
    Select a status.
    Note: You cannot delete active exchange rates.
    Comments
    Provide additional comments for the exchange rate.
  4. Click Save.