How To Fix T2581 - To transfer exchange rates, enter the target currency and the rate type

SAP Error Message - Details

• Message type: E = Error

• Message class: T2 - General Treasury

• Message number: 581

• Message text: To transfer exchange rates, enter the target currency and the rate type

What causes this issue?

You have selected the field to transfer exchange rates without entering
the to-currency and the rate type. Without this information, there can
be no consistent transfer of exchange rates in the SAP R/3 System.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Enter the to-currency and the rate type with which the exchange rates
are to be transferred to the SAP R/3 Sytem operative tables.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T2581 - To transfer exchange rates, enter the target currency and the rate type ?

  The SAP error message T2581, which states "To transfer exchange rates, enter the target currency and the rate type," typically occurs when you are trying to transfer exchange rates in the system but have not provided the necessary information regarding the target currency and the rate type.
  Cause:
  
  Missing Target Currency: The system requires a target currency to which the exchange rates will be applied. If this field is left blank, the error will occur.
  Missing Rate Type: The rate type defines the kind of exchange rate being used (e.g., average rate, spot rate). If this is not specified, the system cannot proceed with the transfer.
  Incorrect Configuration: There may be issues with the configuration of exchange rates in the system, leading to the inability to process the transfer.
  
  Solution:
  
  Enter Target Currency: Ensure that you have specified the target currency in the relevant field. This is usually a dropdown or input field where you can select or enter the currency code (e.g., USD, EUR).
  Specify Rate Type: Make sure to select or enter the appropriate rate type. This could be a predefined type in your SAP system, such as 'M' for average rates or 'B' for bank rates.
  Check Configuration: If the above fields are correctly filled and the error persists, check the configuration settings for exchange rates in your SAP system. Ensure that the rate types and currencies are properly defined in the system.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on how to enter exchange rates and the required fields.
  
  Related Information:
  
  Transaction Codes: The error may occur in various transaction codes related to currency exchange rates, such as OB08 (Maintain Exchange Rates) or other related financial transactions.
  User Roles and Permissions: Ensure that you have the necessary permissions to enter or modify exchange rates in the system.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  Support: If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By ensuring that both the target currency and rate type are correctly entered, you should be able to resolve the T2581 error and successfully transfer exchange rates in SAP.