GUIDE Transfer exchange rates by the ECB

Table of contents

• 1 Transfer Exchange Rates from ECB
• 1.1 How to Transfer from ECB
• 1.2 Calculation of the respective Exchange Rates
• 2 Transfer Exchange Rates from SNB

The exchange rates published by the European Central Bank (ECB) per working day can be transferred directly from the network via the action 'Acquisition of exchange rates by the ECB' or by transfer from the previously saved XML file. The ECB table contains closing prices of all currently valid prices per working day, which can be imported either jointly or selectively.

Basically, only those exchange rates can be imported which are created in the application 'WKZ' (currency code). Currencies that where not provided by the ECB must be entered manually in the relevant period. Via context menu it is possible to click on Tablecells editable, where the exchange rates can added manually in existing lines.

In the application 'Exchange rates' (WKZWKA) the following fields must be filled out in the selection area:

Fact Specification of the fact on which the currency conversion takes place.

Reporting Date of exchange rate Specification of the cut-off date, for the exchange rate to be imported.

Exchange rate type Specification of the exchange rate type R

Period relation Selection of the time reference (PDK, SK or MDK)

You can choose the menu item via right click:

• SK (Day) closing rate: when entering 'SK', the price of the respective working day is taken from the list. If the specified deadline is not a working day, it is not included in the ECB list. The system then automatically searches for the last working day before the specified key date and imports these values. This is documented in a message in the transfer protocol (application IE JOB Controls - Import Protocol).
• PDK (Period) period average rate as the average of all SK (Day) at the end of the month: The reference is always made to the beginning of the respective fiscal year. The first period of the year marked 'J' in the application 'ABR' is authoritative. The period average rate is calculated by adding together the rates of the last working day of the month and then dividing by the number of months.
• PDK (Period) period average rate as the average of all MDK (Month): This is the average of all day closing date exchange rates of the specified time interval.
• PDK (Period) period average rate as the average of all SK (Day): The calculation of average exchange rates is alternatively possible using the procedure applied by the ECB itself for calculation of annual average rates. This procedure calculates the average of all single daily exchange rates.
• MDK (Month) Monthly average rate: is the arithmetic average of all closing rates from the first day of the month (working day) to the deadline (working day).

The import of the exchange rates is documented in the 'IE job controls' application under 'Import log' (see context menu of the respective job).

Similar to the functionality for the ECB you can automatically download exchange rates from the website of the Swiss National Bank (SNB) and import them into IDL.KONSIS. This function can only be used if the group currency is CHF, otherwise the new menu is not active. Vice versa the menu for the transfer of exchange rates from ECB now is disabled if the group currency is not EUR.

However, a difference exists in the way of publication of the exchange rates by the banks: While the ECB offers all exchange rates within one big file, the SNB releases files with exchange rates for every day. Even though these files are significantly smaller, a big number of files has to be downloaded for the determination of average exchange rates per year. Therefore, the offline mode (download of the exchange rate files independent from IDL.KONSIS and storage in the file system) is not provided for the SNB data.