What is 'object currency' in SAP CO - Controlling?

object currency - Overview

• Component: CO

• Component Name: Controlling

• Description: A currency defined in the master record of a object cost center, internal order, and so on. When you create a object, the controlling area currency is defaulted as the object currency. You can change this.

object currency - Details

• 
  Key Concepts: 
  Object currency is a feature of SAP Controlling (CO) that allows users to assign a currency to an object, such as a cost center or internal order. This currency is then used to calculate the costs associated with the object. The object currency is separate from the company code currency, which is used for general ledger postings. 
  
  How to use it: 
  Object currencies can be assigned in the SAP system by navigating to the Controlling area and selecting the “Object Currency” option. From there, users can select the object they wish to assign a currency to and enter the desired currency code. Once saved, this currency will be used for all calculations related to that object. 
  
  Tips & Tricks: 
  When assigning an object currency, it is important to ensure that the currency code entered is valid and up-to-date. Additionally, it is important to note that any changes made to an object’s currency will not be reflected in historical data. 
  
  Related Information: 
  For more information on object currencies in SAP Controlling, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_CONTROLLING/731/en-US