How To Fix FXM_CORE057 - Exchange rate type &1 does not exist.

SAP Error Message - Details

• Message type: E = Error

• Message class: FXM_CORE -

• Message number: 057

• Message text: Exchange rate type &1 does not exist.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FXM_CORE057 - Exchange rate type &1 does not exist. ?

  The SAP error message FXM_CORE057 indicates that the specified exchange rate type (denoted by &1) does not exist in the system. This error typically occurs in the context of foreign currency transactions, where the system is unable to find the required exchange rate type for currency conversion.
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type specified in the transaction or configuration does not exist in the system.
  Incorrect Configuration: The exchange rate type may not have been defined or activated in the system.
  Typographical Error: There may be a typo in the exchange rate type being referenced.
  Authorization Issues: The user may not have the necessary authorizations to access the exchange rate type.
  
  Solution:
  
  
  Check Exchange Rate Types:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) to check if the exchange rate type exists.
  If it does not exist, you may need to create it or use a different exchange rate type that is available.
  
  
  
  Create or Modify Exchange Rate Type:
  
  If the exchange rate type is missing, you can create it using transaction code OB07 (Define Exchange Rate Types).
  Ensure that the exchange rate type is properly configured and activated.
  
  
  
  Verify Configuration:
  
  Check the configuration settings in the relevant modules (e.g., FI, CO) to ensure that the exchange rate type is correctly assigned to the relevant transactions.
  
  
  
  Check for Typos:
  
  Review the transaction or configuration where the error occurred to ensure that the exchange rate type is correctly spelled and formatted.
  
  
  
  User Authorizations:
  
  Ensure that the user has the necessary authorizations to access the exchange rate type. This may involve checking user roles and permissions.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on managing exchange rate types.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OB07: Define Exchange Rate Types
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to exchange rate types.
  Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to resolve the FXM_CORE057 error and ensure that the necessary exchange rate types are available for your transactions.