9.3 Currency

Financial institutions transact business in more than one currency. Transacting business in multiple currencies demands functional capabilities for multi-currency accounting and currency rate management.

OFSAA Rate Management's Currency module supports the definitions and maintenance of currencies. Currency definitions are fundamental to the definition of both interest rate yield curves and currency exchange rates. A key attribute of every yield curve is the currency with which it is associated, and currency exchange rates can only be established between defined currencies. OFSAA Rate Management provides a comprehensive list of ISO-defined currencies; you can also define and add your user-defined currencies.

To view the Interest Rate Code Summary page, navigate to Common Object Maintenance, select Rate Management, and then select Currency. This page displays a comprehensive list of more than 170 seeded ISO currency codes.

• Searching for Currency
  A Search pane is provided to search for currencies by Name, Currency (by ISO currency code), Status, or Reporting Currency.
• Editing Currencies
  To edit a currency, select a currency, click Edit. You cannot modify any currency Code value. You can modify the Currency Name, Reference Interest Rate Code, Reporting Currency value (Yes or No), and the currency's Status (Active or Inactive).
• Adding Currencies
  To add a currency, follow these steps:
• Deleting Currencies
  Select one or more currencies and then click Delete. You cannot delete any currencies that are utilized elsewhere in the system.