How to configure currency type in sap

In SAP all currencies are maintained as per the ISO standard. SAP provides currencies for every country and it also provides a flexibility of defining our own currencies. When we define local currency and foreign currencies for a company code then the transaction methods and the exchange rates etc should have been configured in place to get that reflected in SAP FICO transactions. Below in this article we have provided steps and transaction codes on how to configure currency type in sap.

How to configure currency type in sap

Here are the steps that are followed to carry out settings for currency type in SAP FICO:

Define Exchage rate type or Check Currency type

SPRO > SAP Net Weaver > General Settings > Currencies > Check Exchange Rate types

T code: OB07

From this you can check all SAP delivered exchange rate types and by clicking on New Entries one can define a new exchange rate type. While defining the exchange rate type you should remember to put the correct ISO Code for the currency that you are defining.

Define currency translation ratios for currecny type

SPRO > SAP Net Weaver > General Settings > Currencies > Define translation ratios for currency translation

T Code: OBBS

Currency Exchange Rate

SPRO > SAP Net Weaver > General Settings > Currencies > Enter Exchange Rates

T Code: OB08

Setting for default exchange rate type for document type

SPRO > Financial Accounting > General Ledger Accounting > Business Transactions > Carry Out and check document settings > Define document type

T Code: OBA7

Define Valuation method

SPRO > Financial Accounting New > General ledger Accounting (New) > Periodic Processing > Valuate > Define Valuation Areas

T Code: OB59

Prepare automatic posting for foreign currency valuation

SPRO > Financial Accounting (New) > General Ledger Accounting (New) > Business transaction > Periodic Processing > Valuate > Foreign Currency Valuation > Prepare Automatic posting for foreign currency valuation

T Code: OBA1

Forex Run for closing date

T code: F.05

If you have any questions on currency type then please let us know. We will address those questions either through a reply to you or by updating this article.

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