Currency Exchange Rates

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Posted on by Rajat walia

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Hi Experts,

I setup a new company, And i want to now how do i setup for currency. I am trying to update currency exchange rate but it is not updating.

will wait for your responses

Thanks

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Ahmed Mohamed Rafik 3,049 User Group Leader on at

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For Local Currency (LCY). From General Ledger Setup, just define the "Local Currency Symbol".

For Foreign Currencies, From "Currencies", Create the Currency code and Name.

From Exchange Rate Button, enter the following:

Starting Date: Enter the day of the exchange rate.

Exchange Rate Amount: 1

Relational Exchange Rate Amount: "Type the Exchange Rate for this currency related to the Local Currency".

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RobertasR 5,004 on at

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Hi Rajat,

the 'Update Exchange Rates' service needs to be setup before use, as the one from Yahoo doesn't work anymore since early November.

To put exchange rates manually you can open the column 'Currency Factor' on the Currencies page (it might be open already) and put the exchange rate there as Currency Factor (amount of currency for 1 LCY). This will create the exchange rate for today's date.

Or highlight the foreign currency in Currencies page and hit 'Exchange Rates'. In the new list create a new line with the date and exchange rate

Hope that helps.

Robertas

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Alexander Ermakov 28,096 on at

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In order to work with currency, you first need to setup it (refer here for more details: msdn.microsoft.com/.../hh169173(v=nav.90).aspx). Then, you would need to input exchange rates for the respectful dates - either manually (as other members suggested) or setup Currency Exchange Rate Service: msdn.microsoft.com/.../mt299007(v=nav.90).aspx

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Community Member on at

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Hi Rajat,

As mentioned by Robertas, Yahoo currency service doesn't work any more.

Basically you need to do two things.

1. Identify the National bank of the your country who publishes the exchange rates in xml. You will need this when you configure as per the next link.

2. Perform the setup as mentioned in the link by Alexander msdn.microsoft.com/.../mt299007(v=nav.90).aspx

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Rajat walia 390 on at

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hi,

Thanks all for your responses.

it works.

but want to know is there any other service URL available or not ?

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Rajat walia 390 on at

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Hi

Now Base currency is EURO. but i want INR as base currency. i mentioned INR as LCY in GL setup but not working .

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Ahmed Mohamed Rafik 3,049 User Group Leader on at

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Hi Rajat,

You can not define more than 1 local currency, it is just one local currency.

Try to change the base currency from General Ledger Setup.

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Ahmed Mohamed Rafik 3,049 User Group Leader on at

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Try to change the base currency from General Leger setup, as you have to define one base currency.

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Rajat walia 390 on at

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i set it INR in LCY as base currency but did not find any changes in currency table.

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Ahmed Mohamed Rafik 3,049 User Group Leader on at

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There is no relation between Currencies table and the Base Currency in GL Setup.

You have to remove the INR manually from currencies table if you set it as base currency.

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