Enter Currency Rate
Explanation
This activity is used to enter or manually update the currency rates for
the currencies used within a company. Exchange rates are specified for each currency in the
applicable currency rate type. This task should be performed
by a system administrator or equivalent person.
You can view rates that are valid only for today's date or
view all currency rates for a specific currency code. This is useful when
comparing a currency code's changes over a period. You can also automatically
update currency rates using the Currency Update
Assistant.
Prerequisites
In order to perform this activity:
- The currency code used as the reference currency when entering currency
rates should be defined in the
Currency Codes
window.
- The currency rate type for which the the currency rates are entered
should be defined in the
Currency Rate Types window.
System Effects
As a result of this activity, the currency rates entered will be available to
be used throughout IFS Applications when converting amounts.
Window
Currency Rates
Related Window Descriptions
Currency Rates
Procedure
To enter a currency rate for a currency type:
- Open the Currency Rates
window and search for the currency rate type for which you want to enter
currency rates.
- Create a new record in the table.
- Enter the currency code for which you want to specify a currency rate in
the Currency Code field.
- Enter the currency rate in the Rate field.
- Modify the date displayed in the Valid From field if required.
- In the Conversion Factor field, enter the number of units in
reference currency to which the currency rate applies.
- Save the information.