How To Fix VK365 - No exchange rate type with fixed rates defined for the target currency

VK365 - Overview

• Message type: E = Error

• Message class: VK - Pflege und Bearbeitung von Konditionen

• Message number: 365

• Message text: No exchange rate type with fixed rates defined for the target currency

What causes this issue?

The intended target currency is the currency of the European Union.
This means that fixed rates for this currency have been stored in the
system.

System Response

If the rates are not fixed, but the agreement currency has been changed
anyway, then incorrect payment values are determined for the agreement
if the rates change over the course of the agreement period.

How to fix this error?

Select the EU currency as the target currency and maintain fixed rates
for this currency.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message VK365 - No exchange rate type with fixed rates defined for the target currency ?

  The SAP error message VK365, which states "No exchange rate type with fixed rates defined for the target currency," typically occurs in the context of pricing and currency conversion in SAP. This error indicates that the system is unable to find a valid exchange rate type for the specified target currency, which is necessary for processing transactions that involve currency conversion.
  
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type that is required for the target currency is not defined in the system.
  Incorrect Configuration: The exchange rate type may not be properly configured or may not have fixed rates defined for the target currency.
  Currency Not Supported: The target currency may not be supported in the current configuration of exchange rates.
  Data Entry Error: There may be a mistake in the data entry where the wrong currency or exchange rate type is specified.
  
  
  Solution:
  
  
  Check Exchange Rate Types:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify