Defining an Exchange Rate

Prerequisites

To define an exchange rate, you should have:

  • Determine Business Object algorithm defined using the F1-MOBO algorithm type and attached to the C1_​EXCHRATE maintenance object

    Note: The C1-ExchangeRate and C1_​EXCHRATE_​BO business objects are shipped with the product. The C1-ExchangeRate business object is used while defining and editing date and time based exchange rates. However, the C1_​EXCHRATE_​BO business object is used while defining and editing date based exchange rates. Depending on whether you want to define date or date and time based exchange rates, you need to accordingly set the Business Object parameter in the Determine Business Object algorithm. The system will then accordingly display the fields while defining or editing an exchange rate.

  • Currencies and divisions defined in the application

  • Conversion types defined in the CONV_​TYPE_​FLG lookup field

  • Exchange rate sources defined in the EXCH_​RATE_​SRC_​FLG lookup field

Procedure

To define an exchange rate:

  1. Click the Menu link in the Application toolbar.
    A list appears.
  2. From the Main menu, select Pricing Management and then click Exchange Rate.
    A sub-menu appears.
  3. Click the Add option from the Exchange Rate sub-menu.

    The Add/Edit Exchange Rate screen appears. It contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Business Object Indicates the business object using which you are defining an exchange rate. Not applicable
    From Currency Used to indicate the currency that you want to translate. In other words, it is used to indicate the source currency. Yes
    To Currency Used to indicate the currency in which you want to translate the source currency. In other words, it is used to indicate the target currency. Yes
    Conversion Type Used to indicate the conversion type for the exchange rate. Yes
    Division Used to indicate the division for which you want to define the exchange rate.
    Note:

    You can only view those divisions to which you have access in the Division list.

    You must leave this field blank while defining a global exchange rate.

    		 Yes (Conditional)
    Note: This field is required when you are defining a division-specific exchange rate.
    Exchange Rate Source Used to indicate the source from where the exchange rate is received.
    Note: This field appears when you are defining a date and time based exchange rate.
    		 No
    Effective Start Date/Time Used to specify the date and time from when the exchange rate is effective.
    Note:

    This field appears when you are defining a date and time based exchange rate.

    By default, the time is set to 12:00 AM. You can change the time, if required.

    		 Yes
    Effective End Date/Time Used to specify the date and time till when the exchange rate is effective.
    Note:

    The effective end date and time cannot be earlier than the effective start date and time.

    You must leave this field blank while defining a global exchange rate. This is because a global exchange rate does not have an end date and time.

    This field appears when you are defining a date and time based exchange rate.

    By default, the time is set to 12:00 AM. You can change the time, if required.

    		 Yes (Conditional)
    Note: If the End Date Required for Division Override option type of the C1_​EXCHRATE feature configuration is set to Y, this field is required when you are defining a division-specific exchange rate.
    Effective Start Date Used to specify the date from when the exchange rate is effective.
    Note: This field appears when you are defining a date based exchange rate.
    		 Yes
    Effective End Date Used to specify the date till when the exchange rate is effective.
    Note:

    The effective end date cannot be earlier than the effective start date.

    You must leave this field blank while defining a global exchange rate. This is because a global exchange rate does not have an end date.

    This field appears when you are defining a date based exchange rate.

    		 Yes (Conditional)
    Note: If the End Date Required for Division Override option type of the C1_​EXCHRATE feature configuration is set to Y, this field is required when you are defining a division-specific exchange rate.
    Exchange Rate Used to specify the exchange rate. In other words, it is the number of units of the target currency that is equivalent to a single unit of the source currency.
    Note: The system provides you with the facility to specify the exchange rate value with a precision of upto 18 decimal places (0.000000000000000001).
    		 Yes
    Spread Used to specify the spread for the exchange rate. No
    Tip: Alternatively, you can access the Add/Edit Exchange Rate screen by clicking the Add Exchange Rate button in the Page Title area of the Exchange Rate screen.
  4. Enter the required details in the Add/Edit Exchange Rate screen.
  5. Define characteristics for the exchange rate, if required.
    Note: You can define characteristics when you are defining a date and time based exchange rate.
  6. Click Save.

    The exchange rate is defined in the system.

    Note: If an exchange rate is already defined with a source and conversion type combination on a given date and time, the system will not allow you to define another exchange rate with the same specifications.

Related Topics

For more information on... See...
Exchange Rate screen Exchange Rate (Used for Searching)
Search Exchange Rate zone Search Exchange Rate
How to define a characteristic for an exchange rate Defining a Characteristic for an Exchange Rate
How to set the C1_​EXCHRATE feature configuration Setting the C1_​EXCHRATE Feature Configuration