In this SAP FICO tutorial, you will learn how to enter exchange rates in SAP for different exchange rate types. In our previous SAP tutorials, we have learned how to define translation ratios for currency translation in SAP.

How to enter exchange rates in SAP

In SAP, different exchange rates can be maintained for different exchange rate types with different validity periods. Generally this exchange rates are daily obtained from RBI and these details are maintained in currency table.

It is recommended to maintain maintain exchange rates for all exchange rate types or if you are maintaining one rate type, you can maintain the rate for that type only.

Scenarios

While posting foreign currency transactions, the SAP system by default consider the Average exchange rate type (M Type) and assign the rates on the particular date on which the transactions are posted. Otherwise we can assign exchange rate type, so the system take rate and rate types.

Configuration steps

You can enter exchange rate types in SAP, by using one of the following navigation method.

  • Transaction code: – OB08
  • Path: – SPRO –> SAP Reference IMG -> SAP Netweaver –> General Settings –> Currencies –> Enter Exchange rates.
Enter Exchange rates menu path

In SAP, exchange rates can be maintained as per direct quotation or indirect quotation.

For E.g.

  • Direct Quotation:  1 $ =  ? 66
  • Indirect Quotation: 1 ? = $ 1/66

Step 1) Enter transaction code “OB08” in the SAP command field and enter.

Step 2) on change view currency exchange rate overview screen, click on on new entries to maintain exchange rates. We can maintain daily quotations, weekly quotations and month end quotations, but for each day and for each type we can enter only one quotation.

Maintain Exchange rates new entries

Step 3) On exchange rates new entries screen, update the following details.

  • ExRt: – Enter exchange rate type key for which you want to maintain exchange rates.
  • Valid From: – Update valid date
  • From: – Currency code from which currency to be converted.
  • Dir.Quotation: – Enter the value of direct quotation.
  • To: – Enter currency key to which currency that the exchange rate to be converted.

Note: – Bank selling rate is always higher than bank buying rate.

After maintaining the exchange rates, click on save button and save the configured details.

Successfully we have maintained exchange rates in SAP.