This activity is used to enter or manually update the currency rates or automatically update the currency rates for the currencies used within a company. Exchange rates are specified for each currency in the applicable currency rate type. This task should be performed by a system administrator or equivalent person.
You can view rates that are valid only for today's date or view all currency rates for a specific currency code. This is useful when comparing a currency code's changes over a period. You can also automatically update currency rates using the Currency Update Assistant and performing the Update Currency Rates command in Currency Rates page.
Further, currency rates which were entered previously can be updated by performing
Update Currency Rates command only when there is a workflow definition.
Moreover, currency rates which were entered previously can also be updated using an active definition in the Centralized Currency Rate Handling page.
In order to perform this activity:
As a result of this activity, the currency rates entered and updated will be available to be used throughout IFS Cloud when converting amounts.