Reference Currency
Definition
Currency key used to carry out all foreign currency translations for a specific exchange rate type.
Use
You can assign a reference currency to an exchange rate type. For every other currency, you enter the exchange rate in the reference currency. All other translations are carried out using the reference currency.
You can only use the reference currency for exchange rate type M (average rate), and not for buying or bank selling exchange rate types.
You specify USD as the reference currency. To translate from GBP to DEM, the system uses the GBP/USD and DEM/USD exchange rate specifications.
You can specify several reference currencies for one exchange rate type. This may be necessary for example, to comply with legal regulations.
To specify a reference currency for an exchange rate type, proceed as follows in Customizing: General Settings ® Currencies ®
Check Exchange Rate Types.