About Currency

Currencies do not often change. The Euro is the last major change in currency. However, currency exchange rates constantly fluctuate. If your Siebel CRM application will be doing calculations such as forecasts, orders, or billing, in more than one currency, it is important to have a system in place for constantly updating the current exchange rate between various currencies.

Note: Out-of-the-box Siebel CRM objects include the capability of specifying an exchange date for a transaction, thereby allowing an exchange transaction to be calculated at the date that a transaction occurs. However, without a constant update to the currency tables to reflect current exchange rates, this capability will provide inaccurate information. For this reason, customers who need to do currency conversion should develop a plan for maintaining currency exchange rates on a given date.