The onboard base currency is pre-determined by the cruise operator and may change by voyage, depending on the country the ship’s desination country. 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, you must enable the following parameter.
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 are the same for both buy and sell.
Buy Operation: The ship operator buys foreign currency other than the base currency.
Sell Operation: The ship operator sells foreign currency other than the base currency to its guests. For example, the base currency is US Dollar (USD) and the ship is selling foreign currency, other than USD to the guests.
Figure 3-1 Currency Exchange
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 processes 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.