1. Asset Liability Management User Guide
  2. Oracle Asset Liability Management Process
  3. Activating Currencies and Loading Exchange Rates

8.6 Activating Currencies and Loading Exchange Rates

Rate Management under Common Object Maintenance menu handles all currency definitions for OFSAA applications. Currencies are conveniently referred to by code and written description. A comprehensive list of ISO-defined currencies is included, and you can define and add your currencies. After installation, one currency is active and ready for processing: the one identified by your organization as the functional currency.

You can activate other currencies and define and activate newly-created currencies when required. Also, you can designate key currencies to be used for reporting. These alone will be available for cross-currency consolidation.

The Currencies window enables you to select currencies for reporting and for establishing interest rates and exchange rates. It allows you to activate relevant currencies and classify as:

  • FunctionalCurrency
  • ReportingCurrencies
  • Other ActiveCurrencies

Before defining the classifications, let us understand the two types of currencies: ISO-defined and User-defined.