Auction Exchange Rates

Exchange rates are used in the auction to compare bids if suppliers use alternate currencies.

You can select an alternate currency for any bidder who does not use the default currency specified on the Header page, specify the exchange rates to use, and specify synchronization options.

Prerequisites

The Exchange Rates page appears only if enabled in the auction type. To enable this tab, go to Administration Document Setup Auction Types and select an auction type or choose Create. In the auction type, under the section Bidding, select Allow bids in multiple currencies.

Features

Field Help for Exchange Rates Page

Function	Description
From Rate	Enter the rate used to convert from the alternate currency to the default currency. This rate might be one you obtained from an outside system. For example, if USD is the default currency and EUR is the alternate currency, and 1 EUR = 1.14 USD, enter `1.14` as the From Rate.
To Rate	Enter the rate used to convert to the alternate currency from the default currency. For example, if USD is the default currency and EUR is the alternate currency, and 1 USD = 0.877 EUR, enter `.877` in the To Rate field.

Function

Description

From Rate

Enter the rate used to convert from the alternate currency to the default currency. This rate might be one you obtained from an outside system.

For example, if USD is the default currency and EUR is the alternate currency, and 1 EUR = 1.14 USD, enter 1.14 as the From Rate.

To Rate

Enter the rate used to convert to the alternate currency from the default currency.

For example, if USD is the default currency and EUR is the alternate currency, and 1 USD = 0.877 EUR, enter .877 in the To Rate field.

Activities

Adding an Alternate Currency to an Auction

You should add an alternate currency for any bidder who does not use the default currency specified on the Header page.

To add an alternate currency:

On the Exchange Rates tab, choose Add Currency and select the currency or currencies to add.
Choose OK.
Specify the exchange rates to use for the currency or use the system-defined rate, which is determined by a system administrator. The system-defined rate is used by default.
Save your entries.