Exchange Rate Maintenance

Introduction

The exchange rate inquiry feature is designed to get exchange rates from the e-Banking database as wel l as from the back end host. Rates can be obtained from the e-Banking database if the back end host is not available.

Different types of rates are maintained, based upon financial activity and rate modes (buy, sell and mid) that are supported in e-Banking . Some examples of activities are Self Funds Transfer (SLF) and Bill Payment.

Rates in the e-Banking  Table are maintained exactly in the same manner as it exists in the back-end host, to avoid inconsistency in fetching rates from e-Banking  and the back end host.

The administrator must manually specify each exchange rate on a daily basis. An upload program updates the database with the values in the flat file.

Spread is applied on the rates obtained from the e-Banking  database as well as from the back-end host. However, Spread application on online rates can be parameterized. It can be switched off, if the host returns the rate after applying the spreads. Spreads are applied for the retail first; if it is not available then it is applied for the retail category. If both are not available, then Spreads are not applied.

e-Banking supports two scenarios to maintain exchange rate; one in which cross currency rates are maintained and the other where rates are maintained with respect to the home currency. For example: If the home currency is in Indian rupees (INR), then the rates are maintained as USD-INR, GBP-INR and so on.  Setting up of the scenario is a bank level parameter, that must be done at the backend host.

Navigation

The following is the navigation for this option:

• Click Exchange Rates under FX Maintenance in Application Maintenance.

• The Exchange Rate Maintenance 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 exchange rates are being maintained.

Note:

This field cannot be edited.

Rate Code

The rate code used to maintain the exchange rate.

Rate Mode

From the drop-down list, select the rate mode.

Valid Values:

B - Buy

M - Mid

S - Sell

A - All

Fixed Currency Code

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

Variable Currency Code

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

From Date

Select the date from which the exchange rate is maintained from the calendar widget

To Date

Select the date till which the exchange rate is maintained from the calendar widget.