Currency conversion

Currency conversion rates are defined between two currencies and are bound by effective dates.

Sterling™ Order Management System Software contains the following currency conversion features:

• The following table displays the currency conversion rates bound by effective dates:

  Table 1. Currency conversion rates

  From	To	From	To	Rate
  British Pound	US Dollar	1/1/2004	1/31/2004	1.51
  British Pound	US Dollar	2/1/2004	2/28/2004	1.56
  British Pound	US Dollar	3/1/2004	3/31/2004	1.62

  A conversion rate definition is understood to imply a 1:x relationship. Thus, if one British pound is equal to 1.51 US dollars during January 2004, two British pounds are equal to 3.02 US dollars during January 2004.

• Rate definitions are not reciprocal. A conversion from US dollars to British pounds cannot use the inverse of the British pound to US dollar exchange rate. A rate for converting US dollars to British pounds must be available. Otherwise, Sterling Order Management System Software reports an error. The only exception to this restriction is that a reciprocal relation does exist between the euro and its member currencies.
• Sterling Order Management System Software provides the updateConversionRates API that allows users to import exchange rates and maintain the exchange rates in their database. Using this API, new exchange rates can be loaded every few hours if desired. You can also set up conversions using the Applications Manager.
• Sterling Order Management System Software provides a user exit at the point of performing a currency conversion. This user exit allows users to perform currency conversions outside of Sterling Order Management System Software. This allows real-time application of the current exchange rate instead of using the last updated exchange rate.