What is exchange rate type in SAP LOD-TEM - Travel OnDemand?

SAP Term: exchange rate type

• Component: LOD-TEM

• Component Name: Travel OnDemand

• Description: A set of exchange rates, consisting of 1 or more currency pairs and values, that have the same base currency. Examples of exchange rate types: Exchange Rate Type 1 1 USD = 89.93 JPY 1 EUR = 127.11 JPY 1 GBP = 144.91 JPY Exchange Rate Type 2 1 GBP = 1.614 USD

Smart SAP Assistant

• Key Concepts: 
  Exchange rate type is a feature of the SAP Travel OnDemand component (LOD-TEM) that allows users to define different exchange rates for different currencies. Exchange rate types are used to convert foreign currency amounts into local currency amounts. 
  
  How to use it: 
  To use exchange rate type, users must first define the exchange rate type in the system. This can be done by going to the Travel OnDemand component and selecting “Define Exchange Rate Types” from the menu. Once the exchange rate type is defined, users can then enter the exchange rate for each currency in the system. 
  
  Tips & Tricks: 
  When defining an exchange rate type, it is important to ensure that the exchange rates are up-to-date and accurate. It is also important to remember that different exchange rates may apply for different currencies, so it is important to check the exchange rates for each currency before entering them into the system. 
  
  Related Information: 
  For more information on how to use exchange rate type in SAP Travel OnDemand, please refer to the official SAP documentation.