Summary -
In this topic, we described about the Exchange Rates process along with technical information.
Exchange rates is a relationship between two currencies. Exchange rates are used to translate an amount into another currency. Exchange rates can be defined in the system for the following purposes: -
- Posting and Clearing - Used to translate amounts posted or cleared in foreign currency or to check a manually entered exchange rate during posting or clearing.
- Exchange Rate Differences - Used to determine gains or losses from exchange rate differences.
- Foreign Currency Valuation - Used to valuate open items in foreign currency and foreign currency balance sheet accounts.
Below process is to create exchange rate from USD to INR as exchange rate 001.
Step-1: Enter the transaction code OB08 in the SAP command field and click Enter to continue.
![Exchange Rates](img/create-er.png)
(OR)
Enter the transaction code SPRO in the SAP command field and click Enter to continue.
![Exchange Rates](img/create-er1.png)
Click on SAP Reference IMG.
![Exchange Rates](img/create-er2.png)
Expand SAP NetWeaver → General Settings → Currencies → Enter Exchange Rates. Click on Execute.
![Exchange Rates](img/create-er3.png)
Exchange Rates normally entered as Direct or Indirect Quotations.
Example -
Direct Quotations - 1 USD = 64 X 1 INR
Indirect Quotation - 1/64 USD = 1 INR
Step-2: In the next screen, select activity New Entries on the application bar.
![Exchange Rates](img/create-er4.png)
Step-3: In the next screen, enter the below details.
- ExRt – Select the exchange rate type key which you want to maintain the exchange rates
- Valid From – Specify the exchange effective date
- From – Specify the currency from which it converted to be
- Dir.Quot. – Specify the direct quotation value.
- To – Specify the currency to which it converted to be
![Exchange Rates](img/create-er5.png)
Step-4: Once all the details entered, click on the Save button to save the changes.
![Exchange Rates](img/create-er6.png)
Step-5: It prompt for the Change Request. Click on tick mark.
![Exchange Rates](img/create-er7.png)
Step-6: Status bar displays the below message once the exchange rates saved successfully.
![Exchange Rates](img/create-er8.png)
Technical Information: -
- Transaction Code: - OB08
- Navigation path: - SPRO → SAP Reference IMG → SAP NetWeaver → General Settings → Currencies → Enter Exchange Rates