How To Fix KB197 - No valid exchange rate found for currency translation &1 to &2

SAP Error Message - Details

• Message type: E = Error

• Message class: KB - Controlling: Reporting

• Message number: 197

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

What causes this issue?

The executed report displays, among other things, costs in a target
currency you specified on the <DS:SIMG.SIMG_ORKS_SELEK_RPCN>selection
screen</>. During the translation of the posted data from &V1& to &V2&,
however, the system could not find a valid exchange rate for exchange
rate date &V3& and for exchange rate type &V4&.

System Response

The report could not be executed.

How to fix this error?

Check your entries for the target currency, for the exchange rate date
and for the exchange rate type as well as the exchange rates stored in
the system.

Error message extract from SAP system. Copyright SAP SE.

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• What is the cause and solution for SAP error message KB197 - No valid exchange rate found for currency translation &1 to &2 ?

  The SAP error message KB197 "No valid exchange rate found for currency translation &1 to &2" typically occurs when the system is unable to find a valid exchange rate for converting one currency to another. This can happen in various scenarios, such as during the posting of financial documents, currency translations in reports, or when executing currency-related transactions.
  Causes:
  
  Missing Exchange Rate: The most common cause is that there is no exchange rate defined in the system for the specified currency pair (from currency &1 to target currency &2) for the relevant date.
  Incorrect Date: The exchange rate might not be valid for the date of the transaction. Exchange rates are often defined for specific periods, and if the date falls outside this range, the system will not find a valid rate.
  Currency Configuration: The currencies involved may not be properly configured in the system, or they may not be set up for currency