Rate and currency management > Exchange rates > Add exchange rate

Add exchange rate

An administrator can be given the responsibility of maintaining the rates on this screen. How frequently these rates are changed, and the source of the rates themselves, are decisions that need to be made by the organization.

You are likely to add new foreign exchange rates into Spend Dynamics when you are first setting up the system. Following that, they may be added when employees are travelling to different countries and there is a need to include the rate of that country to handle cash expense claims/requisitions.

To add a new exchange rate:

1. Click the Exchange Rates button on the Administration Overview diagram (Organization view).

   The Cash Foreign Exchange Rates window appears.

   This screen shows you a table with all rates currently set in the system. If you want to set a foreign exchange rate for a currency that is not currently showing on this table, you first have to add the currency via the Currency Options screen.

2. Click Add new exchange rate.
3. The Add New Exchange Rate screen appears.
4. Complete the form and Save.

   The new rate automatically shows on the Cash Foreign Exchange Rates table and in the audit history at the bottom of the screen.