How To Fix GK702 - No valid exchange rate found for translating currency &1 to &2

SAP Error Message - Details

• Message type: E = Error

• Message class: GK - Messages for SAP Consolidation

• Message number: 702

• Message text: No valid exchange rate found for translating currency &1 to &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message GK702 - No valid exchange rate found for translating currency &1 to &2 ?

  The SAP error message GK702 indicates that there is no valid exchange rate available for converting one currency to another in the system. This typically occurs during transactions that involve currency conversion, such as when posting documents or generating reports that require currency translation.
  Cause:
  
  Missing Exchange Rate: The most common cause is that the exchange rate for the specified currency pair (from currency &1 to currency &2) is not maintained in the system.
  Incorrect Validity Period: The exchange rate may exist, but it is not valid for the date of the transaction. Exchange rates are often maintained with specific validity periods.
  Currency Configuration Issues: There may be issues with the configuration of currencies in the system, such as missing currency types or incorrect settings.
  Data Entry Errors: There could be a mistake in the currency codes entered in the transaction.
  
  Solution:
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (or use the menu path: Accounting > Financial Accounting > General Ledger > Master Data > Currencies > Maintain Exchange Rates).
  Check if the exchange rate for the specified currency pair exists. If not, you will need to enter the appropriate exchange rate.
  Ensure that the exchange rate is valid for the date of the transaction.
  
  
  
  Check Validity Period:
  
  If the exchange rate exists, verify that it is valid for the date of the transaction. If necessary, adjust the validity period of the exchange rate.
  
  
  
  Review Currency Configuration:
  
  Ensure that the currencies involved are correctly configured in the system. Check the currency types and settings in the configuration.
  
  
  
  Verify Data Entry:
  
  Double-check the currency codes entered in the transaction to ensure they are correct.
  
  
  
  Consult Documentation:
  
  If you are unsure about how to maintain exchange rates or configure currencies, refer to SAP documentation or consult with your SAP administrator.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  OB22: Define Exchange Rate Types
  OB37: Define Currency Types
  
  
  Exchange Rate Types: Different exchange rate types can be defined in SAP (e.g., M for average rate, G for historical rate). Ensure you are using the correct type for your transaction.
  Currency Translation: Understanding how currency translation works in SAP can help in troubleshooting similar issues in the future.
  
  By following these steps, you should be able to resolve the GK702 error and ensure that valid exchange rates are maintained in your SAP system.