Exchange Rate

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.

Exchange rates are used in limit, collateral, and credit facility calculations, when the contract and the attached limit/ collateral, or the credit facility and its attached contracts are expressed in different currencies. They are also used within Operational Ledger, where all amounts are calculated using the accounting reference currency. In FintechOS, the Exchange Rate menu allows you to add the exchange rates needed in financial operations.

 To manage exchange rates, follow these steps:

  1. Log into FintechOS Portal.

  2. Click the main menu icon at the top left corner.

  3. In the main menu, expand the Admin Configuration menu.

  4. Click the Exchange rate menu item to open the Exchange rate page.

HINT
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.

  1. 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.

  2. Fill in the following fields:

    3. Field Mandatory Data Type Details
    Exchange Type Yes Option Set

    The exchange type.

    IMPORTANT!
    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: ExchangeRate * Multiplicator. The field is editable.
    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 1 but the field is editable.
  3. Click the Save and Close button at the top right corner of the page.