Setup for Exchange Rates

After the initial exchange rate setup, you must update currency exchange rates on a regular basis to provide a default rate for transactions and for realized and unrealized gains and losses.

This table describes the setup tasks for exchange rates and the programs used:

Task and Description	Program
To convert amounts from one currency to another using the inverse (multiplier or divisor) method, set up from and to currency relationships and a multiplier or divisor exchange rate for each relationship.	Currency Exchange Rate Entry (P0015A)
To convert amounts from one currency to another using the no inverse method, set up from and to currency relationships and a no inverse rate for each relationship.	Currency Exchange Rate Entry (P0015A)
To convert amounts when an exchange rate is not quoted in a financial market publication, create a cross-rate relationship for two currencies based on a common currency.	Set Cross Rates Calculation (P111511) Calculate Cross Currency Rates (R11153)
To convert amounts through a triangulation currency: Set up from and to currency relationships with a triangulation currency. Specify a conversion method for leg 1 of the currency relationship. If you specify the multiplier or divisor (inverse) method, the system uses the reverse method for leg 2. Set up exchange rates for leg 1 of the currency relationship. The system uses the reciprocal rate (inverse method) or the same rate (no inverse) for leg 2.	Currency Exchange Rate Entry (P0015A)
Upload exchange rates from a website as an alternative to entering exchange rates manually.	External Exchange Rates Revisions (P0015Z1) External Exchange Rate Processor (R0015Z1)