In this step, you define new exchange rate types for planning purposes. Rate types enable you to store currency translation rates for different purposes in the system as of the same date. You must not delete the preset entries.
The system uses rate type "M" to translate currency when you post and clear documents.
Course type "M" must be in the system.
The system is delivered with rate types for the bid rate (type G), ask rate (B) and mean rate (M). If you do not specify a rate type, the system uses type "M".