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The Foreign Exchange Rate page is where users with appropriate security rights can view, enter, or modify foreign exchange rate information. This page appears in read-only mode if you have view only security rights to foreign exchange rates or if the exchange rate was created by a different organisation.
Note: If you are creating a foreign exchange rate, you need to select a currency from the Currency drop-down list. If the currency for which you want to create a rate does not appear in the drop-down list, then a rate already exists for the currency. To see all rates, you must close this page and view all existing foreign exchange rates. You can do this by clicking on the click here to cancel link in the Note section on the page.
The fields and controls contained in the Foreign Exchange Rate page are described below.
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Field/Control |
Description |
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Base Currency |
The base currency for your organisation, as defined in the administration area of the Trade Services system. |
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Convert from Currency |
The currency for the foreign exchange rate displayed on the page. Available selections include all currencies for which a foreign exchange rate does not already exist. You must select a currency from this list when you are creating a new foreign exchange rate. When you are viewing or modifying an existing rate, this list appears in read-only mode. |
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Calculation Method |
The calculation method for converting the currency to your base currency. You must select a calculation method from this list when you are creating a new foreign exchange rate. Examples of calculation methods are Divide and Multiply. For example, your base currency is Australian Dollars, and you want to convert 500 U.S. Dollars to your base currency. The formula for this currency conversion is as follows: 500 (number of units) / (Divide calculation method) .65 (conversion rate for U.S. dollars) = 769.23 U.S. Dollars to Australian Dollars. |
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Buy Rate |
The exchange rate at which foreign currency is bought. This field can contain up to 14 characters, including a decimal character - 5 characters to the left of the decimal and 8 characters to the right of the decimal. |
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*Mid Rate |
The exchange rate for the foreign currency. This field can contain up to 14 characters, including a decimal character, and is a required field. The format for the rate you enter is 12345.12345678 (5 characters to the left of the decimal and 8 characters to the right of the decimal). This field is required. |
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Sell Rate |
The exchange rate at which foreign currency is sold. This field can contain up to 14 characters, including a decimal character - 5 characters to the left of the decimal and 8 characters to the right of the decimal. |
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FX Rate Group |
The FX Rate Group to which this foreign exchange belongs. |
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Save |
Pressing this button saves the current information in all sections of the Foreign Exchange Rate page. |
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Save & Close |
Pressing this button saves the current information in all sections of the Foreign Exchange Rate page and returns you to the Reference Data Area with Foreign Exchange Rates. This button does not appear when the page is displayed in read-only mode. |
Foreign Exchange Rates Overview
Reference Data Area with Foreign Exchange Rates
Creating a Foreign Exchange Rates
Modifying Foreign Exchange Rates
Deleting a Foreign Exchange Rates