In the current age of cut throat completion, where the organization has the business across the globe, it becomes essential to maintain daily rates into the system, in order to record foreign currency transactions. Oracle Financials Cloud provide you the flexibility to maintain daily currency conversion rates between any two currencies. Users can enter daily conversion rates for specific combinations of currencies, date, and conversion rate type. Oracle Financials Cloud system automatically calculates inverse rates. You can override the inverse rates that are automatically

calculated. Maintenance of daily rate is supported in Fusion General Ledger. It is very simple to load and maintain rates into the system.

There are three different methods of loading currency rates:

  1. Manual Load using the Daily Rates Spreadsheet – You can load Daily Rates manually using ADFDI spreadsheet.
  2. Manual Load using File Based Data Import process – Download FBDI file (XLSM Template name: DailyRatesImportTemplate.xlsm) from Oracle Enterprise Repository to load daily rates using File Based Data Import Process.
  3. Automatic Load using web services – If you have a rate subscription source that provides daily rates, then you can use web service to fully automate the loading of the rates using the File-Based Data Import (as described in option#2 above).


Duty Roles and Privileges:

In order to load rates to Oracle Cloud, the user needs to carry the following security privileges

Tasks Privilege Duty Role(s)
Creating rate types Define Conversion Rate Type Daily Rates Administration

Duty/General Accounting Manager

Maintaining daily conversion rates Maintain Daily Conversion Rate Daily Rates Administration

Duty/General Accounting Manager

Importing rates to Cloud ERP Run Daily Rates Import and Calculation Program Daily Rates Administration

Duty/General Accounting Manager

Viewing daily conversion rates View Daily Conversion Rate Daily Rates Administration

Duty/General Accounting Setup Review duty

About the Author

Prerit Chelani is the Certified Financial Consultant with an experience of 9+ years including both Oracle ERP and Financial Cloud. He has been part of end to end implementation projects on cloud side. He comes with a Chartered Accountancy background and is very well versed with Financial concepts and Cloud Process.