Setting Up Exchange Rates

Exchange rates for each scenario, allows for currency conversion at varying rates as necessary. In cases where the exchange rates do not apply or there needs to be some type of deviation, currency exceptions can be applied. The concept of a currency exception refers to situations where a specific currency is treated differently from others due to factors like regulatory policies, taxation rules, capital controls, fixed exchange rates, or its acceptance in international trade. These exceptions can provide flexibility in transactions, alter tax implications, or facilitate trade, making them important for businesses and investors operating in diverse financial environments.

Currency conversions with exceptions are not executed when the Currency Conversion process takes place from the Data Load Rules process. Currency Conversions with exceptions will be applied when you save Currency Exchange Rates and/or run the Consolidation Process.

Access the Exchange Rates page by navigating to Maintenance > Multi-Currency > Exchange Rates.

The Exchange Rates page has three tabs - Currency Exchange Rate, Profile and Mapping.