How do currency conversion rates work?

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FAQ KB0394196

Symptom

How do Currency Conversion Rates work?

Resolution

Currency conversion rate is defined in a Microsoft^® Excel or comma-separated value (CSV) file that you can export through the Data Import/Export task:

For Sourcing only realm, you can export the file by going to:

Manage > Administration > Site Manager > Data Import/Export > Export tab > search for Export Currency Conversion Rates.

For integrated realm/integrated suite, it appears in:

Manage > Core Administration > Site Manager > Data Import/Export > Export tab > search for Export Currency Conversion Rates.

For integrated sites, everything defined in this file also appears in the Sourcing part (Manage >Administration). If the Application.AQS.EnableCurrencyConversionRateSetSync parameter is enabled and if user import the currency exchange rates, then it will appear in both Upstream and Downstream and vice versa.

File consists of five columns:

FromCurrency: defines the currency from which we will make the conversion.
ToCurrency: defines the currency into which we will convert the value.
Rate: the rate that system will use to convert.
UniqueName: (not mandatory column) used when you want to overwrite the existing conversion rate in operational procurement. If you are importing new rates, you can leave it blank. In upstream/sourcing you do not even have to define this column in a file.
Date: defines when the rate becomes effective. This is the most important column in a file.

Suppose the following three lines appear in the currency conversion file:

From 1.1.2000 - 31.12.2009 we convert Euros (EUR) > United States Dollars (USD) using a rate of 111.
From 1.1.2010 - 31.12.2019, the conversion rate for EUR > USD is equal to 222.
From 1.1.2020 moving forward, the conversion rate for EUR > USD is 333.

See Also

If you have over half a million records in the Currency Conversion Rate table, exporting to CSV is more efficient and faster. Either exporting to Excel^® may fail or you may run into a row limit.

If you upload Currency Conversion Rates in a Suite-Integrated setup by going to Manage > Administration (in other words, the sourcing part), those rates will appear in both Upstream and Downstream if the Application.AQS.EnableCurrencyConversionRateSetSync parameter is enabled.

If you upload Currency Conversion Rates into a child or parent in a non-integrated suite/setup, changes also appear in sourcing within 24 hours following the data load.

If you define a rate from EUR to USD, for example, the system automatically inverts it and calculates the USD > EUR conversion rate. For example, if you have EUR > USD rate of 2, the system automatically assumes that the USD > EUR rate is equal to 0.5. This inverse lookup does not apply to Exchange Rate Sets of sourcing events.

Triangulation does not apply to Exchange Rate Sets of Sourcing Events either.

Date format can be specified with hours or without, based on your preference. Both will be accepted by the system.

Formatting:

Sun Jan 1 00:00:00 PST 2012 is correct.
1-1-2012 is correct too.
31-1-2012 is incorrect. The system requires United States (US) format, so 1-31-2012 is correct.

When no hour is specified, the system assumes the default of 0:00 in the Pacific Standard Time (PST) time zone.

For Sourcing Events the Currency Conversion Rates should be updated in upstream also for multi currency bidding.

Applies To

Core Procurement > Core Administration
Guided Sourcing > Guided Sourcing Event > Guided Sourcing Event administration
Guided Sourcing > Guided Sourcing Event > Guided Sourcing Event Currency Issues
Strategic Sourcing > Sourcing Events > Sourcing Event Currency Issues