How To Fix T0877 - An exchange rate of &3 is defined for translation from &1 to &2

SAP Error Message - Details

• Message type: E = Error

• Message class: T0 - General Treasury

• Message number: 877

• Message text: An exchange rate of &3 is defined for translation from &1 to &2

What causes this issue?

An exchange rate type, for which rate fixing is intended, is used for
exchange rate &V1& / &V2&. The rate which the SAP R/3 System should
continue to use, however, deviates from this fixed rate.
INCLUDE 'CUSTOMIZED_MESSAGE_INFO' OBJECT DOKU ID TX

Error message extract from SAP system. Copyright SAP SE.

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• What is the cause and solution for SAP error message T0877 - An exchange rate of &3 is defined for translation from &1 to &2 ?

  The SAP error message T0877 indicates that there is an issue with the exchange rate defined for currency translation. Specifically, it means that the system is unable to find a valid exchange rate for the specified currencies in the translation process.
  Cause:
  The error typically arises due to one of the following reasons:
  
  Missing Exchange Rate: There is no exchange rate defined in the system for the specified currency pair (from &1 to &2) for the date in question.
  Incorrect Configuration: The exchange rate type being used may not have the necessary rates defined.
  Date Issues: The exchange rate may not be valid for the date of the transaction or reporting period.
  Currency Pair: The currencies involved may not be correctly set up in the system.
  
  Solution:
  To resolve the T0877 error, you can take the following steps:
  
  
  Check Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) in SAP.
  Verify if there is an exchange rate defined for the currency pair (from &1 to &2) for the relevant date.
  If not, you will need to enter the appropriate exchange rate.
  
  
  
  Verify Exchange Rate Type:
  
  Ensure that the exchange rate type being used in your transaction is correctly configured and has the necessary rates defined.
  You can check this in the configuration settings under SPRO > Financial Accounting > Financial Accounting Global Settings > Currencies > Define Exchange Rate Types.
  
  
  
  Check Date Validity:
  
  Ensure that the date for which you are trying to perform the currency translation falls within the validity period of the exchange rate.
  
  
  
  Currency Configuration:
  
  Make sure that both currencies involved in the transaction are correctly configured in the system. This includes checking if they are active and properly set up in the currency settings.
  
  
  
  Consult Documentation:
  
  If you are unsure about the configuration or the steps to take, refer to SAP documentation or consult with your SAP support team for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  SPRO: Access to SAP Customizing Implementation Guide
  
  
  Exchange Rate Types: Different types of exchange rates can be defined for various purposes (e.g., average rates, historical rates).
  Currency Translation: This process is often used in financial reporting, where amounts in one currency need to be converted to another for consolidation or reporting purposes.
  
  By following these steps, you should be able to identify and resolve the issue causing the T0877 error in SAP.