Creating exchange rates

Create exchange rates for locations based on the exchange rates in the currency markets. The exchange rate is valid until you create a new exchange rate record for the same currency; at which point the End Date is populated for the older record and the new exchange rate takes effect. You can create exchange rates for currencies that you need. It is not required to have active records for all currencies. Currency exchange is location dependent. You cannot edit an existing record but you can deactivate a record by clicking Delete.

To create exchange rates:

  1. Select Administration > Currency > Exchange Rates.
  2. Specify this information:
    Currency Name
    Specify the currency for which you want to create the exchange rate.
    Exchange Rate
    Specify the exchange rate.
  3. Click Save. The exchange rate definitions are saved and the exchanges rate list is updated by the system.