Currency Exchange Rates Types

Currency Exchange Rate Types allow for multiple different versions of exchange rates for various purposes. This enables different exchange rate values to be entered for the same pairings over the same period of time.

When a transaction is posting, the exchange rate type is set as default and this exchange rate will be used. However, when processing budgets or closing a financial period, a different exchange rate type can be selected.

GYDE365 recommend three Exchange Rate Types:

DEFAULT : Used for everyday exchange rate

BUDGET : Used for budget and forecasting exchange rates

CLOSING : Used for closing period end

Additional information available from Microsoft. Follow the link below:

Currency capabilities in financial reporting – Finance | Dynamics 365 | Microsoft Docs

Learn how to configure the currency setup in Dynamics 365. Follow the link below:

Configure currencies in Dynamics 365 Finance – Learn | Microsoft Docs