Manage financial exchange rates and currencies

This section describes how to manage FX rates between currencies, and how to set your preference in currency display.

Overview of financial exchange rates and currencies

PPM can display cost data for entities such as projects and financial summaries in different currencies depending on the region with which each entity is associated. A particular entity can only be associated with one region at a time, which means the entity's cost data is displayed in only one currency—either the region's local currency or the base currency used by the system. Financial exchange (FX) rates are used to calculate the exchange rates between a local currency and the base currency.

Note: Access to currencies, FX rates, and regions is controlled through access grants and security groups. For details on the security for currencies, FX rates, and regions, see Security model.

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Manage exchange rates

You can add new currencies, add new FX rates, and edit exsiting FX rates.

Action Description
Add a currency

Adding a new currency makes it available to be displayed by any region. When you add a new currency, you must also fill in FX rates for current and future time periods.

Note: Certain currencies may not display correctly unless the I18N_ENCODING parameter in the server.conf file on the PPM Server is set to UTF-8. For details, see Server parameters.

To add a new currency:

  1. From the menu bar, select Open > Administration > Financials > Manage Exchange Rates.

    The Manage Financial Exchange Rates page opens.

  2. Click Add a Currency.

    The Add Currency page opens.

  3. From the Select Currency to Add list, select a currency.

  4. Enter an Exchange Rate for all the Effective Dates listed.

  5. Click Add.
Add a new FX rate

When you add a new FX rate, all previously saved cost and benefit data (forecast and actuals, project plan costs, and so forth) are recalculated against the base currency.

To add a new FX rate:

  1. From the menu bar, select Open > Administration > Financials > Manage Exchange Rates.

    The Manage Financial Exchange Rates page opens.

  2. Click Add New FX Rate.

    The Add Financial Exchange Rate page opens, with current FX rate values for all active currencies defaulted.

  3. From the Effective Date list, select a date for the new FX rate to take effect.

  4. Enter the new FX rates as needed for the listed currencies.

  5. Click Add.
Edit existing FX rates

To edit existing FX rates:

  1. From the menu bar, select Open > Administration > Financials > Manage Exchange Rates.

    The Manage Financial Exchange Rates page opens.

  2. Click the Edit Rates link under the time range you want to edit.

    The Edit Financial Exchange Rate page opens.

  3. Edit the FX rate values for the desired currencies.

  4. Click Done.

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Recalculate cost after FX rate changes

After changes are made to FX rates, amounts are recalculated according to a schedule specified in the FX Rate Update Service, as described in Cost calculation services.

Note: Changes to FX rates may not take effect immediately. By default, costs are recalculated as needed once every two hours. We recommend that changes to FX rates be made after working hours or on weekends, to avoid confusion.

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Set your personal currency display

You can choose the currency to use in displaying all of your PPM Dashboard pages and portlets.

To select your preferred currency:

  1. From the menu bar, select Open > Administration > Edit My Profile.

    The Edit My Profile page opens.

  2. Select an option in the General > Dashboard Cost Display section of the page.

    The local currency is the currency that is associated with an entity's region, not the user's regional settings.

  3. Click Done.

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Set your currency format

You can choose the format of the currency to display by modifying the regional settings in your profile.

For example, if you select the Ukraine (Ukraine) formatting option, a currency value would display 1 234,56 USD. If you select the English (United States) formatting option, a currency value would display $1,234.56.

Modifying the formatting option also affects how dates and times are displayed.

To select your preferred currency format:

  1. From the menu bar, select Open > Administration > Edit My Profile.

  2. Click the Regional Settings tab.

  3. Select a formatting option.

    Note: When you select Spanish (Mexico) for the Format Options field, the sign "$" is displayed before the currency. The sign is for Mexican peso instead of US dollars. The sign for US dollars is "US$".

  4. Click Done.

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