Currency Conversion Rates Tab

Click this button to save your edits

Read-only. The default currency selected on the General Tab. The default currency always has a conversion rate of "1.00000" and all of the entries in the Rates Matrix are in relationship to the default currency.

 

If you click the Default Currency field label the Currency Defaults Dialog opens. The settings in this Dialog are used as defaults in the following places in PMWeb:

 

 

See Currency Dialog for more information.

Use this function to download rates on demand from a subscription service for a specific date range, rather than scheduling the download to occur later. When you click the button a dialog opens:

 

 

Enter or select From and To dates. If "Allow service to update existing date records" is unchecked PMWeb will download all dates within the range specified but will not save any dates that already exist in the Rates Matrix. The dialog displays the number of rate lines (days) in your selected date range - these correspond with lines in the Rate Matrix - and the number of downloads that will be required to fill those lines. The calculation is Downloads = # of rate lines x the number of currency columns in the Rate Matrix. Click the Save button to begin the download.

 

 

The Conversion Rates tab is where you can store day to day conversion rates for each of the currencies you configure in the General Tab. You can create these records manually or configure a connection to an online service for periodically downloading conversions.

 

When you save a currency on the General tab a column is automatically created for you in the Conversion Rates matrix. Records that use Advanced Multi-currency can be linked to this matrix using the combination of the date and the currency to select a conversion rate. Note that the default currency does not appear in the matrix as its rate is always "1.00000". Instead, the default currency appears as a separate field in the upper left corner of the tab.

 

You will notice that your Conversion Rates matrix contains a special system line. You can identify this line because its Date field contains the words "Default Rates" instead of a calendar date. This line was created for you during the upgrade or installation process. It was created because to use Advanced Multi-currency there always needs to be at least one line in the matrix. This line cannot be directly edited or deleted. If you edit the Default Rate fields on the General tab, though, your changes will show on the Default Rates line in the Conversion Rates matrix.

 

The combination of date and currency are used to locate a specific conversion rate to use in records. Rather than requiring you to create a line for every day in the table, PMWeb uses the concept of rate intervals to make managing the matrix easier. When selecting rates from the matrix it locates the line within the closest rate interval on or before the Rate Date of the record.

 

The "Default Rates" line that was created for you represents an interval of days, from the beginning of time to the end of time. If this is the only line in the matrix, any record that uses Advanced Multi-currency will use the rates on this line because it represents every possible Rate Date. If you add a new line to the matrix, let's say with a date of January 1, 2016, you will then have two rate intervals: one from the beginning of time to December 31, 2015 and another from January 1, 2016 to the end of time. Now, any record with a Rate Date of December 31, 2015, or before, will use rates from line 1 in the matrix and any record with a Rate Date after that will use rates from line 2.

 

Adding date lines, deleting date lines, or changing any of the rates has no effect on existing data, unless there are Advanced Multi-currency records where "Linked to Rate Matrix" is selected in the Currency Dialog and those records are saved - for any reason - after the new Conversion Rates matrix data is saved.