6.2.7 Exchange Rate/FX Processing
Exchange Rate or FX Processing refers to the system's ability to manage and apply foreign exchange (FX) rates to payment transactions that involve different currencies.
If the original transaction credit currency is different from settlement currency, then the option Re-Pickup FX Rate under R-Transaction Preference tab is referred from the Generic Wires ISO Inbound Network Preferences maintenance (PSDIGWNP) screen for the Host code, Network code, and Transaction Type as Incoming combination.
- The external exchange rate processing is done if the External FX Applicable option is set as Yes in the Generic Wires ISO Inbound Network Preferences maintenance (PSDIGWNP) screen. The External Exchange Rate System is picked up from the External Exchange Rate mapping maintenance (PMDERMAP). An External Exchange Rate request XML is sent to the external exchange rate system and a record is logged into the Exchange Rate Queue (PQSEXEXQ) screen with Queue Code as External Exchange Rate Queue.
- The iInternal exchange rate processing is done if the External FX Applicable option in the Generic Wires ISO Inbound Network Preferences maintenance (PSDIGWNP) is set as No. The exchange rate pick-up is done using STANDRD – MID rate.
If the external exchange rate is applicable, then the value date received from the External FX system is updated as the return transaction Settlement Date. There is no change in the Activation Date.
Parent topic: Outbound Return Processing