About currency rate entry

You record the currencies' exchange rates in the Currency rates (CM301000) window.
You specify rates for the currencies of each rate type with respect to the currency selected in the To currency field.
To set up different exchange rates for the same currency pair, you need to create different rate types in the Currency rate types (CM201000) window, and assign each of them to the same currency pair.

The rate values are recorded to the database with at least six significant digits.
You need to decide which operation (Multiply or Divide) should be used for the conversion of each particular currency pair and select an appropriate option in the Mult/div column.

Each record in the table contains the rate and the date when the rate becomes effective.
The system uses the rate for currency conversions for all documents with later dates until a new rate is recorded.
When the next record for the same rate type is entered, the rate value becomes a historical rate and can be used as an effective rate for operations that took place between the two dates. Historical rates are stored in the database for all financial years defined in the system.
For details, see: About historical currency rates

Rates specified with respect to any currency other than the base currency are used only for translations.

Exchange rates can be recorded as often as is needed for a particular foreign currency. All previous values are kept in the database.