Exchange Rates
The following attributes are managed for a currency:
Description
Language-dependent text field
Number of decimal places
Two currencies must be set in relation to each other in order for exchange rates to be managed. The value of a unit of the “reference currency” is then specified as the amount in the “foreign currency”.
An EUR/USD exchange rate of 0.9 means that one euro (reference currency) is USD 0.9.
An exchange rate must be available on a key date. Exchange rate factors and an exchange rate category exist for each exchange rate and currency pair relationship. The exchange rate factors enable the exchange rate to be scaled for very high or very low market values.
The exchange rate category can be used to map additional interpretations of the exchange rate, such as quotation type bid/ask or plan/actual. You can, however, also use the exchange rate category to limit additional types of exchange rates.