Updating exchange rate information
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This page deals with updating exchange rate information. Tell me more.
Select the “Update Exchange Rate Details” link in the previous page.
The “Maintain Exchange Rate Information” page appears.
Note: On launching the page, the system displays the details of the currencies, or exchange rate that is already defined in the “Maintain Currency Information” or “Maintain Company Information” pages respectively.
The system displays the following fields:
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Date Format |
The format in which the date fields appear in this page. This format is displayed from the "User Preferences" business component based on the login user id. In case the format is not defined, the system displays the date format from the “Enterprise Modeling” business component by default. |
Enter the following fields in the “Exchange Rate Details” multiline:
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From Currency |
Use the drop-down list box to select the currency for which the exchange rate with respect to the “To Currency” must be specified The system lists all the “Active” currencies defined in the current business component.
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To Currency |
Use the drop-down list box to select the currency with respect to which the exchange rate of the “From Currency” must be determined. The system lists all the “Active” currencies defined in the current business component.
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Note: The combination of “From Currency” and “To Currency” must be unique in the multiline.
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Exchange rate |
The exchange rate of the “To Currency” with respect to the “From Currency” (Decimal). Mandatory. Ensure that the value entered here is positive. |
The system displays the following fields in the multiline:
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Inverse Rate |
The inverse of exchange rate. The system calculates this rate on updation of the exchange rate details. For example, if one “Dollar” (From Currency) is equal to 50 “Rupees” (approx.), then the inverse rate will be .02 (1/50 = .02) |
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Created By |
The name of the user who created the exchange rate details. |
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Created Date |
The date on which the exchange rate details are created. |
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Last Modified By |
The name of the user who last modified the exchange rate details. |
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Last Modified Date |
The date on which the exchange rate details are last modified. |
Check the box in the “Select” column of the multiline to mark the record for deletion.
Click the Delete icon in the tool bar above the multiline, to delete the record selected in the multiline.
Note: Before deleting the record, ensure that the value selected in the “From Currency” or “To Currency” field is not identified as “Base Currency” for any of the company codes.
Click the “Update Exchange Rate Details” pushbutton to update the exchange rate details.
Updating exchange rate information – An overview
The conversion factor between two currencies is established through the exchange rate. In this activity, you can define the exchange rate information between two currencies.
Exchange rate can be entered for any two currencies that are defined in the system.
From “Maintain Company Information” page
When you launch the “Update Exchange Rate Details” from the “Maintain Company Information” page, the system lists only the Base currency and Permitted currencies of the company for establishing exchange rate information.
From “Maintain Currency Information” page
When you launch the “Update Exchange Rate Details” from the “Maintain Currency Information” page, the system lists all the currencies defined in the “Maintain Currency Information” activity for establishing exchange rate information.
You can select the currencies for which the exchange rate must be defined and enter the exchange rate between the two currencies.
The system saves the exchange rate and displays the inverse of the exchange rate on updation.