Exchange Rates (Rate Management)
Exchange Rates define the conversion rate between foreign currencies and your base currency. They are used when guests pay in a foreign currency or when rates are quoted in a non-base currency.
Access
Configuration → Rate Management → Exchange Rate
Fields
| Field | Required | Description |
|---|---|---|
| Currency | Yes | The foreign currency (e.g. USD, EUR, THB). |
| Hotel | No | Restricts this rate to a specific hotel. Leave empty to apply to all hotels. |
| Units per MMK | Yes | How many units of this currency equal 1 MMK. |
| MMK per Unit | Yes | How many MMK equal 1 unit of this currency. Both directions are entered — the system does not derive one from the other. |
| Valid From | Yes | Start date for this rate. |
| Valid To | Yes | End date for this rate — required, not open-ended. To keep a rate current, create a new record with a fresh date range once the old one expires. |
There is no Active/Inactive flag on Exchange Rates — a rate is simply in effect or not, based on whether today's business date falls within its Valid From/Valid To range.
How It Works
When a payment is posted in a foreign currency, the system uses the exchange rate valid on the business date to convert the amount to MMK for folio and reporting purposes.
Example: If 1 USD = 2,100 MMK (entered as MMK per Unit = 2100) and a guest pays USD 100, the folio records MMK 210,000.
Multiple Rates Over Time
You can have multiple exchange rate records for the same currency with different validity periods. The system uses the rate whose Valid From date is on or before the transaction date.
Common FAQs
The exchange rate is not applying in the payment modal. Ensure the currency's Status is Active in Currencies and the exchange rate has a Valid From/Valid To range covering today's business date (both dates are required — an expired record needs a new one, not an edit to remove the end date).
Should I update exchange rates daily? Update them whenever the rate changes significantly. For properties with high foreign currency volume, daily updates are recommended.
See also
- Currencies — Define which currencies are accepted.
- Cashiering → Exchange Rates — Cashiering-specific exchange rate setup.
- Rate Setup Overview