How To Fix FITP290 - Selected rate is a local rate; no further rate information

SAP Error Message - Details

• Message type: E = Error

• Message class: FITP -

• Message number: 290

• Message text: Selected rate is a local rate; no further rate information

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FITP290 - Selected rate is a local rate; no further rate information ?

  The SAP error message FITP290, which states "Selected rate is a local rate; no further rate information," typically occurs in the context of financial transactions, particularly when dealing with foreign currency transactions or exchange rates in SAP.
  Cause:
  
  
  Local Rate Selection: The error indicates that the system has selected a local exchange rate for a currency conversion, but there is no additional rate information available for that local rate. This can happen if:
  
  The local rate is not defined in the system for the specific currency pair.
  The rate type being used does not have the necessary configuration or data.
  The date for which the rate is being requested does not have a corresponding rate defined.
  
  
  
  Configuration Issues: There may be issues with the configuration of the currency exchange rates in the system, such as missing entries in the exchange rate table.
  
  
  Date Mismatch: The date for which the transaction is being processed may not have a valid exchange rate defined.
  
  
  Solution:
  
  
  Check Exchange Rate Configuration:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) and verify that the exchange rates for the relevant currency pair are correctly defined.
  Ensure that the local rate is set up properly and that there are no gaps in the rate definitions.
  
  
  
  Verify Rate Type:
  
  Check the rate type being used in the transaction. Ensure that it is configured to allow for local rates and that it has the necessary data.
  
  
  
  Date Validation:
  
  Ensure that the date of the transaction falls within the range of dates for which the exchange rates are defined. If necessary, add the missing rates for the required dates.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for any specific notes related to the error message FITP290. There may be additional context or updates provided by SAP.
  
  
  
  Testing:
  
  After making any changes, test the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBA1 (Maintain Automatic Postings), and others that may be related to currency and exchange rate management.
  SAP Notes: Check for any SAP Notes that may address this specific error or provide additional guidance on handling exchange rates.
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to view and maintain exchange rates.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial modules.