3.7 Exchange Rate

The Exchange Rate feature supports the ability to convert the foreign currency expected cash flows or actual transactions into the functional currency by using one of the Spot Exchange Rates supported by the Oracle Insurance Accounting Analyzer Application. The user can indicate the Exchange Rate Type against each input variable in the calculation preference configuration. The application uses the Exchange Rate Type to convert the foreign currency cash flows attached to that input variable into the Functional Currency using the same rate before executing the IFRS17 computations. The application also supports viewing the IFRS17 results in different reporting currencies configured as per legal entity.