How To Fix MN616 - No exch. rate type with fixed rates defined for currencies &1 and &2

MN616 - Overview

• Message type: E = Error

• Message class: MN - Message class for subsequent settlement (Purchasing)

• Message number: 616

• Message text: No exch. rate type with fixed rates defined for currencies &1 and &2

What causes this issue?

The source currency &V1& and the target currency &V2& should normally
be currencies with a fixed exchange rate (e.g. currencies of the
European Monetary Union).
This is not the case with regard to the currencies &V1& and &V2&.

System Response

You can convert to the arrangement currency &V2&.
Since the exchange rates are not fixed, differences in the rebate
income due to currency translations are liable to occur.
Internally, the "subsequent settlement" programs continue to work with
the old rebate arrangement currency. Where necessary, rebate incomes
are translated into the new arrangement currency. In the case of
non-fixed exchange rates, this can lead to undesired differences.
The final changeover to the new rebate arrangement currency does not
take place until the functions "Extend rebate arrangements" and "Create
rebate arrangement using the referencing technique" are performed.

How to fix this error?

Re-check your entries.
Basically, you can change the arrangement currency in any way you wish.
However, this may not be sensible in the case of currencies without
fixed exchange rates.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MN616 - No exch. rate type with fixed rates defined for currencies &1 and &2 ?

  The SAP error message MN616 indicates that there is no exchange rate type defined with fixed rates for the specified currencies. This error typically occurs when you are trying to perform a transaction that requires currency conversion, but the system cannot find the necessary exchange rate information.
  
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type that is required for the transaction is not defined in the system.
  No Fixed Rates Defined: Even if the exchange rate type exists, there may not be any fixed rates defined for the specific currency pair you are trying to use.
  Incorrect Configuration: The configuration settings for currency exchange rates may not be set up correctly in the system.
  
  
  Solution:
  
  
  Check Exchange Rate Types:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify if the exchange rate type you are trying to use is defined.
  If it is not defined, you will need to create it or use a different exchange rate