Currencies - Span Card
- Default
- Use these three fields to specify the conversion rates that will be offered as defaults when you enter Exchange Rates for this Currency. These defaults will only be used for foreign Currencies: they will have no effect if specified for Base Currencies 1 and 2. The two Base Currencies are defined using the Base Currency setting.
- All exchange rates in Hansa are expressed in the form of a ratio, as shown in the illustration. For example, if 66 units of the foreign Currency will buy one unit of the home Currency, enter "66" in the Currency field and "1" in the Base Currency 1 field. Up to six decimal places can be used. In the example illustration, GBP is Base Currency 2. The default has been set so that one GBP buys USD 1.6.
- If the simple conversion system is being used, the ratio should be entered using the Currency and Base Currency 1 fields only.
- Voluntary users of the Dual-Base system can enter the ratio using the Currency field and the appropriate Base Currency field. For example users in the UK with the Euro as Base Currency 2 will probably enter the ratio using the Currency and Base Currency 1 fields to relate the foreign Currency to the GBP. However, it would be possible to relate the foreign Currency to the Euro using the Currency and Base Currency 2 fields. But a choice must be made: a particular foreign Currency can be related to Base Currency 1 or 2 but not to both.
- Users in transitional countries should use the Currency field and the Base Currency 2 field, since this represents the Euro. Wherever a Currency is related to the Euro, the European Monetary Union (EMU) specifications state that the ratio must show how many units of the other Currency can be bought with one Euro.
- Min, Max
- In a similar manner to the Default fields above, minimum and maximum conversion rates between the foreign Currency and one or both Base Currencies can be defined here. When entering Exchange Rates using the register in the System module, Hansa will not allow the saving of any record which falls outside this defined range.
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