Add the option to set institution-specific currency exchange rates that can apply for any length of time
As of September release For institutions that purchase resources with a currency different than the default currency, and have agreements on specific exchange rates with their vendors, you can now define a fixed exchange rate in a new Explicit Exchange Rates code table . Any time a transaction is calculated, it will look for an exchange currency value here.
See: https://knowledge.exlibrisgroup.com/Alma/Release_Notes/2020/Alma_2020_Release_Notes
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Gordon Coleman commented
Yes, yes, a thousand times yes. This is a bugbear for us in Canada too, because so much of our purchasing is denominated in USD. We have to manually adjust the Explicit Ratio on every invoice, or else reconciliation between Alma and the university financial system is impossible.
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PennyV commented
Currently Alma only allows the choice of a local currency from a pre-defined fixed list of worldwide currencies, which update continuously outside of an institution’s control. Our institution offers us a guaranteed exchange rate to protect the Library collection and budget from international currency volatility. We would like the ability to add our own local currency exchange rate, for example AUD $1 = USD 75c, and also to either set this for the financial year by calendar range, for example 1.1.18 to 31.12.18, or for an ongoing period. The addition of this configuration option would allow us to take full advantage of Alma acquisition management and reporting, without time-consuming manual intervention.