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Currency Agreements means any spot or forward foreign exchange agreements and currency swap, currency option or other similar financial agreements or arrangements entered into by the Company or any of its Restricted Subsidiaries.

Transaction currency is your document currency and it can be any currency just you need to maintain exchange rate for it to make a transaction. While Generating document system will maintain data in Local Currency as well as in transaction currency.

The document currency is the currency of the transaction which depends on the structure of the transaction. In our example, we're legally obligated to pay 500 EUR. Thus our document currency is EUR. This currency is actually set on the document at the time of the transaction.

In SAP, when we define Company/company code, currency is a basic data which should be maintained. In SAP, we can maintain one base currency and two parallel currencies, it means three currencies. In FI documents, we can take four currencies including the transaction currency.

Currency Types Currency in which a document is posted (currency type 00). The company code currency is the currency in which the local ledgers are managed in external Accounting (currency type 10). It is already predefined in the system and is the national currency of the company code.

A Bill of Exchange is a document used in global trade as a written order binding one party to pay a fixed sum of money to another party on demand or at a confirmed date.

Document currency. The currency of the transaction. For example, if you purchase a chair from a supplier in Mexico, the document currency is probably the Mexican peso. Local currency. The currency in which the financial books, including the transaction, are closed.