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  1. Add or insert a row.

  2. In the Cur field, press Enter to open the Currency Types form and then select a currency.

  3. Enter the Current Rate of Exchange. When you save the form, Effective Date populates with today's date. Any transactions that take place on or after this date use this rate.

Effective Exchange Rate

Activated by flag CFGUseEffExchRate. It is a weighted average based on the amount paid for the advance vs. the FDA amount, calculated as:

EffectiveRate = FDACurrAmt / ((FDACurrAmt - PDACurrAmt) / FDAExchRate + (PDACurrAmt / PDAExchRate)

"PDACurrAmt" is the total advance amount.

Expand
titleRelated Configuration Flags

Name/Flag

Description

Monthly Exchange Rate
CFGMonthlyExchangeRate

Use monthly exchange rates in Operations.

Use Eff Exch Rate
CFGUseEffExchRate

Turns on/off using effective exchange rate.

Use Invoice Date as Exch Rate Date 
CFGUseInvDateAsExchRateDate

When enabled, the default exchange rate date for freight and demurrage invoices will be the invoice date. Otherwise, it is the cargo contract exchange rate date.