Create Exchange Rate

Introduction

This section outlines the activities of the user can perform using the Create Exchange Rate option. The administrator will be able to define exchange rates for each rate code. Each exchange rate is defined in terms of a fixed currency and a variable currency. The exchange rates are specified for a specific rate mode (Buy, Mid, Sell and All). The validity can be specified for each of these.

Navigation

The following is the navigation for this option:

• Click Create New in Exchange Rates Maintenance the screen.

Or

• Click Create New in the Exchange Rate List screen.

• The Create Exchange Rate screen is displayed.

What you can do

The table below provides a brief description of the data must be specified on the screen and the functions you can perform:

Field

Description

Bank Id

The ID of the bank for whom the exchange rate is  being created.

Note:

This field cannot be edited.

Rate Code

From the drop-down list, select the rate code used to maintain the exchange rate.

Fixed Currency Code

From the drop-down list, select the code of the fixed currency. The application converts amounts from the currency specified in this field.

Variable Currency Code

From the drop-down list, select the code of the variable currency. The application converts amounts to the currency specified in this field.

Fixed Currency Units

Specify the number of units in the fixed currency.

Variable Currency Units

Specify the number of units in the variable currency.

Rate Mode

Select from the drop-down list, the valid rate mode for the transaction type .

Valid Values:

B - Buy

M - Mid

S - Sell

A - All

Valid Upto

Specify the date using calendar widget and time up to which the exchange rate is applicable.