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Exchange Rate Types Configuration

Navigation Path: General Ledger module > Currencies > Exchange rate types

Overview​

The Exchange Rate Types page enables the categorisation of exchange rates for diverse financial and reporting purposes. By defining distinct types (such as Default, Budget, or Closing), you can maintain multiple, concurrent exchange rate matrices to satisfy varying business requirements.

Exchange Rate Type Details​

  • Name: The unique identifier for the exchange rate type (e.g., Default).
  • Description: A contextual summary of the rate type's intended application (e.g., Default exchange rates for daily operations).

Exchange Rates Management​

To define the actual conversion values between currencies for a specific type, you must navigate to the detailed rates matrix:

  1. Select the desired exchange rate type from the primary grid.
  2. Select Exchange rates from the actions toolbar to open the rate definition page.

Currency Converter & Rates Definition​

Within the Exchange rates page, you manage the time-bound conversion factors:

  • Currency Pair: You define rates specific to a "From currency" and "To currency" pairing.
  • Conversion Factor: Specifies the multiplier or divisor relationship between the two currencies.
  • Start Date: The effective date from which the specific exchange rate becomes active.
  • Exchange Rate / Exchange Value: The precise numeric conversion rate applicable for the designated period.