The option used to record average exchange rates to be used in standard material costs. The option is located in the Definitions menu of the Administration Section. Average Exchange Rates are recorded on a separate line for each transaction currency. The fields and functions on the Standard Cost Average Exchange Rates window are:
Foreign Currency Type: The foreign currency type to which the exchange rate will be applied.
Period Code: The code of the standard cost period to which the average exchange rate will be applied.
Period Description: The description of the standard cost period to which the average exchange rate will be applied.
Average Exchange Rate: The average exchange rate value. The average exchange rates for the start and end dates specified on the Period Code field is transferred into this field. The Average Exchange Rate value can be entered directly if necessary.
The Average Exchange Rate value is calculated by dividing the total of exchange rates of every day within the range (including the period start and end dates) to the number of days within the date range. Exchange totals are calculated in the Foreign Exchange Types specified on the F. Currency Usage Parameters located in the Definitions menu of the Administration section. Days without exchange rate information are not included in the average.