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About Setting Up Currency Exchange Rates for Forecasting

The Siebel application uses Currency Exchange Rates to convert monetary amounts from one currency to another. To calculate exchanges between currencies, you must set up an exchange rate twice—one for each currency. For instance, if you want to calculate the exchange rate between the U.S. dollar and the Japanese yen, you must set up an exchange rate for yen to dollars, and set up another rate for dollars to yen.

Currency exchange rates not found in Siebel applications are assumed to be on a 1:1 basis. If you fail to set up an exchange rate, the amounts stay the same when converting, but the currency symbol changes. Note that not every exchange rate needs to be entered into the Siebel application. You can get from one currency to another through the common EMU currency - the euro. This is called Euro Triangulation. For additional information, see the chapter that discusses ongoing administrative tasks in Siebel Applications Administration Guide.