The onboard base currency is pre-determined by the cruise operator and this may change by voyage, depending on the country the ship sails to. In this function, you can perform a buy and sell operation over the counter or post to an account. If you want to have the exchange posted to an account, then following Parameter must be enabled.
Enable Account Postings
Account Info Name Cabin Mandatory Option
Curr. Exch. Charge Department
The total cash out amount is determined by the buy / sell exchange rate and commission defined in the Currency Exchange Setup. The steps to perform an exchange is the same for both buy and sell.
Buy Operation: The ship operator buys foreign currency other than the base currency. For
Sell Operation: The ship operator sells foreign currency other thatn the base currency to its guest. For example, the base currency is US Dollar (USD) and the ship is selling foreign currency, other than USD to the guest.
Figure 3-1 Currency Exchange
You are allowed to post an exchange to an account only when the above-mentioned parameters enabled.
Figure 3-2 Exchange Charged to Account
This feature enables the Ship to trade foreign currencies against its base currency by combining both the Buy and Sell process in a single transaction; for example, an exchange from Euro to British Pound and the base currency is US Dollar. The Foreign-to-Foreign exchange is a two-step process, where the first currency conversion is performed using Buy Currency followed by Sell Currency.