5.7 Process Exchange Rate Maintenance Detail

This topic provides the systematic instructions to capture exchange rates manually in the system.

Exchange rates must be captured manually in the system. Use Exchange Rate Maintenance Detail screen to enter exchange rates.

1. On Home screen, type UTDEXCRM in the text box, and click Next.
   The Exchange Rate Maintenance Detail screen is displayed.

   Figure 5-8 Exchange Rate Maintenance Detail

   
   

   
   Description of "Figure 5-8 Exchange Rate Maintenance Detail"

   
   
2. Enter exchange rates for each currency pair that is maintained for an exchange rate source maintained in the system.
3. Exchange rates can be entered as many times during the course of a working business day, and are effective as and when they are entered. No authorization is necessary.
4. Enter a buy rate and sell rate for each currency pair that is maintained for a source.
5. Before you capture an exchange rate for a currency pair in a source, it is desirable to ensure that the following information is already setup in the system:
   • The different exchange rate sources must be set up in the system in the Source Maintenance.
   • The different currency pairs must be set up for the exchange rate sources, in the Currency Pair Setup maintenance.
6. On Exchange Rate Maintenance Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 5-5 Exchange Rate Maintenance Detail - Field Description

   Field	Description
   Source ID	Alphanumeric; 6 Characters; Mandatory Specify the Source ID of the source for which the exchange rates are being entered. When the selected Source ID is populated in this field, the following fields are populated with the corresponding details of the source, from the Source Maintenance record for the source: The Source Name The Source Reference Currency The different Pair Currencies that have been maintained for the source The Mode of Quotation specified for each currency pair that has been maintained for the source. The Units of Quotation for the reference currency that have been maintained for each currency pair.
   Source Name	Display The system displays the source name for the selected source ID.
   Pair Currency	Alphanumeric; 3 Characters; Mandatory Select the currency that must be set up as a pair currency for the source.
   Mode of Quotation	Display The system displays the mode of quotation that will be used to derive the exchange rate for this currency pair. It could be a direct or an indirect quote.
   Units of Quotation	Display The system displays the units of quotation that must be used in direct rates for this currency pair. This is defaulted to the units specified in the Source Maintenance record for this source.
   Currency Name	Display The system displays currency name here.
   FX Deal Date	Date Format; Mandatory Specify the deal date for the currency pair. This date cannot be earlier or later than the application date.
   FX Value Date	Date Format, Mandatory Specify the date on which the exchange rates must be effective. This date cannot be lesser than the date specified as the FX Deal Date, Additionally, you can enter a future date as the FX Value Date only if you have set the Exchange Rate for Report as No. The exchange rates may be captured any number of times during a business day. Each exchange rate is given a serial number in the system, and the entry bearing the latest number is deemed to be the latest rate that will be effective. Note: The system will allow input in the FX Value Date and FX Value Date fields only if the client country parameter FORWARD_FX_RATE is set to true. If this parameter is set to false, then the system will allow only the application date as valid values in both these fields.
   Reference Currency	Display The system displays the currency that is to be designated as the reference currency for this source. This is the currency in which the rates are to be maintained for the other currencies.
   Buy Rate	Numeric; 21 Characters; Mandatory Select Yes option if currency is disabled from the drop-down list. Else select No.
   Sell Rate	Numeric; 21 Characters; Mandatory Specify the sell rate for the pair currency. This rate must always be greater than zero and greater than the buy rate.
   Exchange Rate for Report	Optional You can indicate whether multiple exchange rates for a date in the past are allowed. The system will use only those exchange rates where this option is not checked for calculation purposes in various batch processes of FCIS.