FX Processing

Auto rate pick up happens only if the transfer amount is within the small FX limit as maintained in CNAPS Network Common Preferences.
Transfer amount is converted to limit currency maintained using midrate of FX rate type linked and small FX limit check is done.
If the transfer amount is above the small FX limit specified, system checks whether External Exchange Rate is applicable in Network common Preferences.
If external system is available the transaction details, then system send exchange rate request to external system for receiving the exchange rate along with FX Reference Number. Based on the response received, exchange rate is populated and further processing of transaction is continued.
If Small FX limit is not maintained auto rate pick up is done for all cross currency payment transactions without any limit check.
Payment contract will be moved to Exchange Rate Exception queue in the following cases with proper error code details:
- Exchange Rate derivation based on core system maintenance fails
- Small FX limit is breached and no external exchange rate system maintenance is available
- Response from Exchange Rate system is rejected
  
  Note:
  For transactions received from UI input with exchange rate no processing on exchange rate is done again.

Parent topic: CNAPS Outbound Payment Validations