About historical currency rates

You can record currency exchange rates any time for a particular currency.
Each record contains the date when the rate becomes effective.
When the next record for the same rate type is entered, the rate value becomes a historical rate and can be used as the effective rate for operations that take place between the two dates. Historical rates are stored in the database for all the financial years defined in the system.

We do not recommend that you change the value of the exchange rate if any transactions were based on the historical rate.

You can view historical rates by using the Currency rates (CM301000) window.
In this window, select the target currency (To currency) and the required date (Effective date).
The list of historical rates that were effective on the selected date will appear in the table on the Currency rate entry tab.
The list will include the rates for all the currencies with respect to the target currency and the currency rate types.

You can use the historical rates for entering back-dated transactions and for calculating realised and unrealised gains and losses.

Parent topic: Manage currency rates - overview

Related concepts
About currency rate entry
About denominated accounts
About foreign currency transactions