Currency

By default, Oracle Transportation and Global Trade Management uses US Dollars when saving costs to the database. Also by default, Oracle Transportation and Global Trade Management triangulates all currency conversions through US Dollars.

Note: The CSV records in the CURRENCY_EXCHANGE_RATE.csv are provided as samples and must not be used for currency conversions. You must load your own exchange rates using the CSV or Exchange Rate Inbound transmissions.

Example

This example illustrates how Oracle Transportation and Global Trade Management stores a shipment cost record with the currency storage default set to two different currencies.

Total actual cost of the shipment is 1000 JPY. If Oracle Transportation and Global Trade Management’s currency storage default is USD (current default in all Oracle Transportation and Global Trade Management installations), Oracle Transportation and Global Trade Management stores this cost as follows:

Total_actual-cost: 1000
Total-actual-cost_currency_GID: JPY
Total_Actual_cost_base: 7.76

If instead Oracle Transportation and Global Trade Management’s currency storage default is GBP:

Total_actual-cost: 1000
Total-actual-cost_currency_GID: JPY
Total_Actual_cost_base: 5.31

In the first instance, the rate of 7.76 represents the USD value of 1000 JPY converted at the current rate in Oracle Transportation and Global Trade Management (128.77) while in the second instance the rate of 5.31 represents the GBP value of 1000 JPY converted at the current JPY/GBP rate in the system (188.08).

When to Change Currency Storage Default

There are two scenarios where you would like to change your currency storage default: either you only use one currency other than USD or you use multiple currencies but not USD.

Rates in One Single Currency

If you only have one currency other than USD, you only need to set your currency storage default to the currency you use. For example, Oracle Transportation and Global Trade Management stores a 100 GBP shipment cost as 100 in both the total cost and the total cost base fields so no currency conversion is needed. In the case of multiple currencies, you need to decide what the currency storage default is for your Oracle Transportation and Global Trade Management installation before setting it.

The Storage Default Unit of Measure can be set by running an action on the “Currency” Unit of Measure. The Unit of Measure page is accessed via Configuration and Administration > Power Data > General > Unit of Measure. This page is only available when you are logged in as DBA.ADMIN. For more information, see the help topic “Unit of Measure”.

Oracle Transportation and Global Trade Management still needs currency rates to convert between the currencies you use. You can download rates from the IMF website. (This populates the DEFAULT rate in the CURRENCY_EXCHANGE_RATE table.) Note: All exchange rates from the IMF are against USD. The following instructions are for using a base currency other than USD or to use a source other than the IMF:

Update the rates you need manually or use a XML or CSV process while again entering your needed rates against your preferred currency. You can do this nightly, monthly, or at any other frequency.
In the glog.properties property file or the CUSTOM property set, set glog.currency.base to your currency storage default (e.g. EUR). This makes Oracle Transportation and Global Trade Management triangulate through the currency of your choice.

This means that Oracle Transportation and Global Trade Management will have all DEFAULT rates stated against your base currency and triangulate using your base currency.