How To Fix FXM_CORE005 - Specify a valid exchange rate type.

SAP Error Message - Details

• Message type: E = Error

• Message class: FXM_CORE -

• Message number: 005

• Message text: Specify a valid exchange rate type.

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FXM_CORE005 - Specify a valid exchange rate type. ?

  The SAP error message FXM_CORE005, which states "Specify a valid exchange rate type," typically occurs in the context of foreign currency transactions or when dealing with exchange rates in SAP. This error indicates that the system requires a valid exchange rate type to proceed with the transaction or process you are attempting to execute.
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type has not been specified in the transaction or configuration.
  Invalid Exchange Rate Type: The exchange rate type specified does not exist in the system or is not defined properly.
  Configuration Issues: The exchange rate types may not be configured correctly in the system settings.
  Transaction Context: The transaction you are trying to execute may require a specific exchange rate type that is not being provided.
  
  Solution:
  
  
  Specify Exchange Rate Type:
  
  Ensure that you are entering a valid exchange rate type in the relevant field of the transaction. This can usually be done in the transaction screen where you are entering currency-related data.
  
  
  
  Check Configuration:
  
  Go to the configuration settings in SAP (Transaction Code: SPRO) and navigate to the relevant section for defining exchange rate types. Ensure that the exchange rate types you need are defined and active.
  Path: Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Currencies -> Define Exchange Rate Types.
  
  
  
  Validate Exchange Rate Types:
  
  Use Transaction Code: OB08 to check if the exchange rate types are correctly defined and that there are valid exchange rates for the specified types.
  
  
  
  Review Documentation:
  
  Check the SAP documentation or help files for any specific requirements related to the transaction you are executing. Some transactions may have specific exchange rate types that must be used.
  
  
  
  Consult with SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting SAP Notes for any known issues related to this error message.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used in SAP to determine how currency conversions are handled. Common exchange rate types include M (average rate), B (bank buying rate), and G (bank selling rate).
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates) and SPRO (SAP Project Reference Object) for configuration.
  SAP Notes: Search for SAP Notes related to FXM_CORE005 for any patches or updates that may address this issue.
  
  By following these steps, you should be able to resolve the FXM_CORE005 error and proceed with your transaction in SAP.