# Currency Rate Currency Rate is used to view and edit all currency exchange rates that you have entered. Currency Rate allows you to establish exchange rates between currencies for a given date and rate type combination. 1. Base Currency is the base currency for the company. 2. Currency represents the from currency ID to be used to enter foreign currency transactions at the rate specified for the effective date and rate type. 3. Effective Date is the date that the rate is to take effect. When you enter foreign currency transactions, the rate is in effect for the currency ID, rate type, and effective date, until an updated rate is entered. 4. Exchange Rate specifies the rate applied to the Currency to arrive at the Base Currency amount. 5. Multiply / Divide specifies whether the foreign currency is to be multiplied or divided by the rate given to arrive at the base currency amount. 6. Rate Type indicates the rate type to be identified with foreign currency, base currency and effective date. Different exchange rates for the same foreign currency, base currency and effective date need to be differentiated by the appropriate rate type ID. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://infinisuite.gitbook.io/erp/currency/currency-rate.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.