Exchange Rates application

In the Exchange Rates application, you can create exchange rates and modify existing rates. You can also configure multiple base currencies to ensure that all appropriate currencies and exchange rates are in the database. You can also ensure that all affected applications perform the correct calculations.

Because exchange rates are stored at the organization level, each organization defines and maintains its own exchange rates.

When you specify an amount in a foreign currency, the active exchange rate is located. Then, the cost in the base currency of your company is calculated. If the Exchange Rates application finds that the exchange rate between two currencies is not defined, specific rules and logic are used to calculate the exchange rate from other exchange rates.

To define currency codes, use the Currency Codes application. To specify the base currency for an organization, use the Organizations application.



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