This activity is used to update currency rates. Currency conversion rates are subjected to change from the date the group salary plan was created. If the plan was capturing the old currency rates 'Update Currency Rates' option gives the facility to update the rates. The currency rates would be updated considering the snapshot date. Once the currency rates are updated the amounts in company accounting currency as well as the plan totals will be updated. The field 'Currency Rate Last Updated' records the date the currency rates were last updated.
Currency Rates can only be updated when the state of the Group Salary Review Plan is Preliminary.