Exchange Rate (Used for Searching)

You can define date or date and time based global and division-specific exchange rates. The date based exchange rate means that the exchange rate is applicable throughout the day. However, the date and time based exchange rate means that the exchange rate is applicable from that date and time onwards. The global exchange rate can be used for all divisions, whereas the division-specific exchange range can only be used for the division for which the exchange rate is defined.

Note: At present, time is not passed as input from any module (such as, payments, adjustments, billing, transaction feed management, and so on) during currency conversion. Therefore, even if you define date and time based exchange rates and use the date and time based currency conversion algorithms at the division level, the system will not search date and time based exchange rate when multiple exchange rates are available on the same day. The system will randomly pick an exchange rate on that day. The implementation team has to build the custom logic to pass or input time to the date and time based currency conversion algorithms in order to derive the appropriate exchange rate.

The system might use the direct division-specific or global exchange rate (i.e. FROM CCY to TO CCY) or direct reverse division-specific or global exchange rate (i.e. TO CCY to FROM CCY) during currency conversion. If either direct or direct reverse exchange rate is not available, the system might use division-specific or global exchange rate through base currency during currency conversion. For example, if the FROM CCY is Canadian Dollars, TO CCY is Japanese Yen, and the division's base currency is U.S. Dollars, the system will first convert the amount from Canadian Dollars to U.S. Dollars and then convert the amount from U.S. Dollars to Japanese Yen. You can define the order in which exchange rate must be searched in the currency conversion algorithm.

The Exchange Rate screen allows you to search for date or date and time based global and division-specific exchange rate using various search criteria. It also allows you to define, edit, and delete an exchange rate. This screen consists of the following zones:

Related Topics

For more information on... See...
How to search for an exchange rate Searching for an Exchange Rate
How to define an exchange rate Defining an Exchange Rate
How to edit an exchange rate Editing an Exchange Rate
How to delete an exchange rate Deleting an Exchange Rate

Parent topic: Currency Conversion