You use Essbase currency conversion to translate financial data from different countries into a single base currency. This conversion facilitates comparisons among identical measures for different countries. You also use currency conversion to consolidate financial data from multiple locations.
For example, consider an organization analyzing profitability data from the UK, reported in pounds, and Japan, reported in yen. To understand the relative contribution of each country, you would need to convert pounds into yen, yen into pounds, or both figures into another currency.
As another example, if United States, Mexico, and Canada all roll up into Total North America, the sum of each country’s profitability figure is meaningless if data is kept in local currencies. Only by converting all local currencies to a single base currency and then rolling up into totals does the Total North America sum become meaningful.
To learn how to create currency conversion applications, see Converting Currency.
Note: | Currency conversion does not apply to aggregate storage applications. |
“Designing and Building Currency Conversion Applications” in the Oracle Essbase Database Administrator's Guide