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Maintain Currency Exchange Rates

You use this step to stipulate how currencies are translated.

The exchange rates are required for plan and actual postings to, among other things:

• translate foreign currency amounts on posting or clearing

• verify rates entered manually

• determine the profit/loss on exchange rate differences

• value open items in foreign currency

• value foreign currency account balances

• determine the controlling area currency equivalents of amounts posted in different company code currencies

• allow project settlement to take account of different controlling area, sender and receiver currencies

The currency translation rates are time-dependent, coming into force on the date entered.

Note

The SAP system uses the currency translation rates stored under rate type "M" to translate currencies when you post or clear actual transaction data. The rates apply to all company codes.

For translation of plan postings, you define a fiscal-year-dependent rate type in the version.

A number of SAP application components use the currency translation rates.

Prerequisites

You must define the currency keys you require.

Check currency codes

Standard Settings

The SAP standard system contains model currency translation rates, under rate type "M".

Recommendation

We recommend that you only store the rates you really need in the system, to keep the system load as low as possible.

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