Currency configuration

AVEVA Contract Risk Management currency configuration allows users to manage contracts in which communications can be created that have financial values expressed in a currency denomination other than the base contract currency (multi-currency contracts). Currency exchange rates can be configured for the entire Organization, with the option to use a separate set of exchange rates for specific contracts .

Note Framework agreements use only a single currency.

A default currency is set for the Organization by the Administrator. Additional Organization exchange rates are configured in the Organization Best Practice Library. A default currency is also set for each project/dept on its creation.

Every contract also has a default currency, which can be different from the Organization or project/dept default currency. The Organization exchange rate is used when calculating values for this contract relative to the project/dept or Organization; for example, in the project/dept financial forecast that reports cumulative contract commitment and expenditure values.

The exchange rate for the default currency is called the 'base rate' and is always set to 1.0000000.

The exchange rates used for a multi-currency contract are relative to the contract base rate. A multi-currency contract can use either the Organization exchange rates or the exchange rates which have been configured specifically for the contract.