How To Fix MQ416 - Plausibility of the exchange rates maintained is questionable

SAP Error Message - Details

• Message type: E = Error

• Message class: MQ - Messages for Euro Changeover Package

• Message number: 416

• Message text: Plausibility of the exchange rates maintained is questionable

What causes this issue?

A warning occurred during the plausibility check of the exchange rates
maintained between EUR and a participating currency. An exchange rate
was found that differs from the fixed exchange rates by a factor of
1000 or 0.001.

How to fix this error?

If you use currencies of this type in your system and this exchange
rate relation is intended, you can continue. If this is not the case,
choose "Cancel" and check your currency Customizing.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MQ416 - Plausibility of the exchange rates maintained is questionable ?

  The SAP error message MQ416, which states "Plausibility of the exchange rates maintained is questionable," typically arises in the context of foreign currency transactions. This error indicates that the exchange rates defined in the system may not be consistent or valid for the transaction being processed. Here are the potential causes, solutions, and related information for this error:
  Causes:
  
  Missing Exchange Rates: The exchange rate for the currency pair involved in the transaction may not be maintained in the system.
  Incorrect Exchange Rates: The exchange rates maintained may be outdated or incorrect, leading to inconsistencies.
  Date Validity: The exchange rates may not be valid for the date of the transaction. For example, if the transaction date falls outside the range of valid exchange rates, this error can occur.
  Currency Type: The currency type (e.g., transaction currency, local currency) may not be properly configured or may not match the expected values.
  Configuration Issues: There may be issues with the configuration of the currency settings in the SAP system.
  
  Solutions:
  
  
  Check Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) and verify that the exchange rates for the relevant currency pair are maintained correctly.
  Ensure that the rates are valid for the date of the transaction.
  
  
  
  Update Exchange Rates:
  
  If the exchange rates are missing or incorrect, update them with the correct values. Make sure to include the appropriate validity dates.
  
  
  
  Review Transaction Date:
  
  Ensure that the transaction date falls within the range of valid exchange rates. If necessary, adjust the transaction date or update the exchange rates accordingly.
  
  
  
  Check Currency Configuration:
  
  Review the configuration settings for currencies in the system. Ensure that the currency types are correctly defined and that there are no discrepancies.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on maintaining exchange rates and resolving related issues.
  
  
  
  Contact Support:
  
  If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with SAP experts for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBBS (Maintain Exchange Rate Types), and OBA1 (Define Exchange Rate Types).
  Currency Types: Understand the different currency types used in SAP, such as transaction currency, local currency, and group currency.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to exchange rates and the MQ416 error.
  
  By following these steps, you should be able to identify and resolve the cause of the MQ416 error in your SAP system.