What is historical exchange rate in SAP SRD-FIN - FIN-Financials?

SAP Term: historical exchange rate

• Component: SRD-FIN

• Component Name: FIN-Financials

• Description: The rate that was paid for a currency or commodity on the date of purchase.

Smart SAP Assistant

• Key Concepts: 
  Historical exchange rate is a feature of SAP Financials that allows users to view and analyze the exchange rate of a currency over a period of time. This feature is useful for companies that need to track the exchange rate of a currency for accounting purposes. 
  
  How to use it: 
  In order to use the historical exchange rate feature, users must first set up the currency exchange rate in the system. This can be done by entering the current exchange rate in the system and then setting up a historical exchange rate table. Once this is done, users can view and analyze the historical exchange rate of a currency over a period of time. 
  
  Tips & Tricks: 
  When setting up the historical exchange rate table, it is important to ensure that all relevant currencies are included in the table. This will ensure that users can accurately track and analyze the exchange rate of any currency over a period of time. 
  
  Related Information: 
  The historical exchange rate feature is closely related to other features in SAP Financials such as foreign currency valuation and foreign currency revaluation. These features allow users to accurately track and analyze the value of foreign currencies over a period of time.