Foundations Currency and Exchange Rates Overview

The Currency & Exchange Rates app enables you to manage Foundations currencies, exchange rate groups, and exchange rates. You can categorize your exchange rates into separate groups to represent different parts of your org, such as companies or regions. You can create separate rate entries for different types within a group, such as:

• Average
• Budget
• Commercial
• Closing
• Historical
• Spot
• Translation

You can decide how and when you want to update the exchange rates in your org. You can update all rates manually, or you can specify that you want to update some or all rates automatically from an external rate provider.

Foundations creates an exchange rate history record whenever a rate is created or edited to enable you to monitor the frequency and content of exchange rate updates.