Currency entry and display within Agiblocks uses 2 decimals. All currency values are rounded up to 2 decimal places.
Currency Conversion
Agiblocks can be configured to use multiple currencies for contract pricing and goods costing. Currency conversion is used for reporting and for single case conversion (like Forex). Currency conversion has been standardized across all modules.
Currency pairs (Base and Variable) are defined in Master data. This determines the multiply/divide direction in which rates will be applied. Currency curve rates are recorded in Market Data, in relation to the Reference Currency. The Reference Currency is similar to the Variable currency under Currency Pairs. For example, if the Reference or Variable Currency is Euros, a rate of 0.72 means 0.72 EUR per 1 USD Base Currency.
| • | Base Currency x Rate = Variable Currency. USD x Rate = EUR |
138 x 0.72 = 100
| • | Variable Currency ÷ Rate = Base Currency. EUR ÷ Rate = USD |
100 ÷ 0.72 = 138
| • | Rate = Variable Currency ÷ Base Currency Rate = EUR ÷ USD 0.72 = 100 ÷ 138 |