Currency FX is the effect of currency changes overtime on a project plan. Currency FX calculates the Monthly Average currency value and Month End currency value.
There are two approaches to calculate the Currency FX:
-
Experienced FX—the Experienced Currency FX to a date
-
Estimate To Complete—the expected Future Currency FX
The Currency FX is calculated based on two Exchange Rate Tables.
-
Monthly Average from Finance
-
Month End Exchange Rate
These two ERT versions will then be mapped to each of the exchange rate table. After setting up the enterprise data for each rate table version, the exchange rates are imported. These exchange rates are different for each rate table version. Then, the Actual Cost is imported from ERP into EcoSys either at Staging or Production. The Actuals production rates are used while calculating the Currency FX.