5.2.13.1 Saving the New Exchange Rate

Click Ok button to save and exit the screen. When you save the drawdown, the system triggers the EXFX event with the exchange rate fixing notice. For future dated drawdowns, you need to fix the exchange rate before the value date of the drawdown.

Subsequently, you have to manually fix the exchange rate for the drawdowns. You have to fix the rate for the next period before the end of the current period. However, if you do not do the rate fixing for the subsequent periods, Oracle Banking Corporate Lending applies the latest fixing rate for the rest of the period.

Note:

• It is mandatory to fix the exchange rate before you initiate a cross currency drawdown in Oracle Banking Corporate Lending.
• If you do not fix the exchange rate when booking a new drawdown, system applies the default exchange rate for converting the drawdown amount to the tranche amount to validate the tranche availability. When the exchange rate fixing happens, Oracle Banking Corporate Lending revalidates the tranche available amount and raise the exceptions, if any.
• You also have the option to fix the exchange rate after booking a drawdown.

For more information, refer the heading Fixing Exchange Rate after drawdown booking in this chapter.