How To Fix KK498 - Exchange rate type & does not exist

KK498 - Overview

• Message type: E = Error

• Message class: KK -

• Message number: 498

• Message text: Exchange rate type & does not exist

What causes this issue?

You entered an exchange rate type which does not exist in the system.

System Response

The system cannot translate the currencies.

How to fix this error?

Enter a valid exchange rate type.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KK498 - Exchange rate type & does not exist ?

  The SAP error message KK498, which states "Exchange rate type & does not exist," typically occurs in the context of financial transactions, particularly when dealing with currency conversions in SAP. This error indicates that the system is unable to find the specified exchange rate type in the configuration.
  
  Cause:
  
  Missing Exchange Rate Type: The specified exchange rate type is not defined in the system.
  Incorrect Configuration: The exchange rate type may not be properly configured or activated in the system.
  Data Entry Error: There may be a typo or incorrect entry in the transaction where the exchange rate type is specified.
  Authorization Issues: The user may not have the necessary permissions to access the exchange rate type.
  
  
  Solution:
  
  
  Check Exchange Rate Type Configuration:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify if the exchange rate type in question is listed. If it is not, you will need to create it or ensure it is correctly configured.
  
  
  
  Create or