Exchange rates represent the value between the currencies of two countries on a given date. These rates are free-floating or fixed. In most cases, exchange rates are free-floating and the value can rise or fall based on market supply and demand. Fixed exchange rates have more restrictions and their value is set by the government.
In FintechOS, the Exchange Rate menu allows users to add the exchange rates needed in financial operations.
To manage exchange rates, follow these steps:
Log into FintechOS Portal.
Click the main menu icon at the top left corner.
In the main menu, expand the Admin Configuration menu.
Click the Exchange rate menu item to open the Exchange rate page.
In the Exchange Rate page, users can add new exchange rates or search, edit, and delete existing ones.
Creating Exchange Rates
Exchange rates are created manually in FintechOS Portal, in the Create and Save page.
To create a new exchange rate, click the Insert button on the top right side of the Exchange Rate page. The Create and Save page is displayed.
Fill in the following fields:
- Click the Save and Close button at the top right corner of the page.
|Exchange Type||Yes||Option Set||
The exchange type.
Users can create new exchange rate types in the Exchange Rate Type menu.
|Exchange Date||Yes||Date||The exchange date.|
|Calculated Exchange Rate||Yes||Numeric||The calculated exchange rate. The value is auto-calculated based on the following formula:
|From Currency||Yes||Option Set||The currency from which the exchange rate is made.|
|Exchange Rate||No||Numeric||The exchange rate.|
|To Currency||Yes||Option Set||The currency to which the exchange rate is made.|
|Multiplicator||Yes||Numeric||The value inputted here multiplies the exchange rate value. The default value is