Reading of the Exchange Rates Published by the ECB
Table of contents
1 Transfer of exchange rates from the ECB
The exchange rates published by the ECB per working day can be transferred directly from the network via the action "Transfer exchange rates from the ECB" or by transfer from the previously saved XML file. The ECB table shall contain closing rates of all current rates per working day, which may be imported either jointly or selectively.
In principle, only the courses that are created in the WKZ application (currency code) can be imported. Rates for currencies not provided by the ECB must be traded manually in the respective period.
In order for a smooth import to work, the following fields must be filled out in the selection area:
[Reference date exchange rate]: Specify the deadline for the rate to be imported.
[Fact]: Indicate the fact on which the currency conversion takes place. [The ability to specify a reference data type for exchange rates (in FAC application) allows a currency conversion on another fact to access these rates as well]
[Exchange Rate Type]: Specify the exchange rate type 'R'.
[Time reference]: Select the time reference. (SHA (closing rate for high inflation countries) is not currently supported)
Calculation of the respective rates:
- SK - closing rate: if you enter 'SK', the rate of the respective working day will be taken from the list. If the specified reference date is not a working day, it shall not be included in the ECB list. The system will automatically search for and import the last working day before the specified cut-off date. This is documented in a message in the transfer protocol (application IE JOB controls - Import protocol).
- PDK - currency rate average per period averaged from end of month: The reference is always made to the beginning of the respective financial year. The first period of the year marked with 'Y' in the 'ABR' application is authoritative. The currency rate average per period is calculated by adding the rates for the last working day of each month and then dividing them by the number of months.
- PDK - currency rate average per period as mean of all MDKs: The reference is always made to the beginning of the respective financial year. The first period of the year marked with 'Y' in the 'ABR' application is authoritative. The currency rate average per period is calculated by averaging each month's monthly exchange rate, adding it up, and then dividing it by the number of months.
- MDK - Monthly average rate: is the arithmetic mean of all closing rates from the first day of the month (working day) to the reference date (working day).
The import of the courses is documented in the IE Job Controls application under 'Import Log' (see the context menu for the respective job).