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Former Member

Currency Conversion

Hi,

Just wanted to check if there are any recommended way for doing currency conversions?. For example I always want to calculate amount in GBP, where the price could have specified in different currency. Or what all care I should take?

Regards,

Yogesh

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2 Answers

  • Best Answer
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    Former Member
    Sep 28, 2011 at 05:13 AM

    Hi

    Adding to what Vikram has said, you need to make sure to keep most updated exchange rates are maintained. This could be done by scheduling a job (import currency converion sheet) to periodically update the conversion rates.

    Also determine a source from where you would get the updated currency converion rates.

    Regards

    Mudit Saini

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  • Sep 27, 2011 at 05:49 PM

    Hi Yogesh,

    If you are storing the currency conversions in Sourcing, then you could use that. Using scripting you should be able to access the currency conversion object.

    If this is for reporting purposes, you could set it up such that the system converts the currency to GBP, in the report output. This has to be done for column type "Monetary Currency" and set the Currency Conversion Source to 'Selection' and select GBP.

    Regards,

    Vikram

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