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

MQ416 - Overview

• 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.

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• 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  Incorrect Exchange Rates: The exchange rates maintained may be outdated or incorrect, leading to inconsistencies.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