BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Specify the direct or indirect quotation
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Specify a purpose for the exchange rate.
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Set up the relationship between currencies using conversion rates
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Maintain exchange rates daily
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Detailed explanation-1: -Go to SPRO → SAP Reference IMG → SAP Netweaver → General Settings → Currencies → Enter Exchange Rates → Execute. Exchange rates can be entered as direct or indirect quotations. In direct quotation, we give multiple of base currency to foreign currency. For indirect quotation, it will be 1/65 USD = 1 INR.
Detailed explanation-2: -In the area menu, choose Customs Management Master Data Other Currencies. Choose Maintain Exchange Rates.
Detailed explanation-3: -To maintain its exchange rate, the government will buy and sell its own currency against the currency to which it is pegged. Short-term moves in a floating exchange rate currency reflect speculation, rumors, disasters, and everyday supply and demand for the currency.
Detailed explanation-4: -In the standard system, the exchange rate type for buying rates is G. You can maintain the exchange rates in Customizing for General Settings, by choosing Currencies Enter Exchange Rates .