Performing Currency Translation

Objectives
After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Perform currency translation in stories

Currency Translation in Stories

Currency Conversion Rates in a Story

The following example illustrates currency conversion results in a story:

  1. Measures: The local currency property value for Store02 is EUR.
  2. P_ACCT Values: The local currency is EUR. This value is stored in the database.
  3. Group Currency USD: The group currency is USD. This value is stored in the database also.
  4. Alternative Currency CAD: The alternative currency is calculated but not stored. This is an example of a model currency conversion measure.
  5. Simulated_Cur_USD_PY (USD): This simulated currency is a story calculated measure.

Note
  • Displaying the local currency (property) in the columns is optional.
  • When LC is changed, the calculated currencies (4 and 5) are retranslated.

Story Conversion Measures

In the following example, you can see the information required to create a converted measure in a story:

  1. Columns: In the story, add a calculated measure for currency conversion.
  2. Name: Provide a name for the new column.
  3. Target Currency: Select the target currency: either fixed or based on the entity currency.
  4. Category: You can choose between categories, either dynamically, or fixed to actual or plan.
  5. Source Measure: Select the required measure from the drop-down list.
  6. Date: Select the date to determine the exchange rate. The Booking Date for example, is determined through the date dimension (specified in the currency setting) in the model.
Note
If a currency conversion is added and there are no exchange rates for that combination of currencies, then the system directs you to the currency table (to add the missing rates).

Currency Translation Examples

Category-Specific Exchange Rates

Business Scenario: You want to compare values that use exchange rates for different categories. You use category-specific exchange rates, which is useful for what-if scenarios.

In this example, the CAD value for Store01 is 5,000,000 dollars.

  1. Currency conversion table:
    • The Actual exchange rate is 0.15
    • The Forecast exchange rate is 0.155
  2. Actuals currency: Add a currency conversion for actual.
  3. Forecast currency: Add a currency conversion for forecast.
  4. Output: View the results in the story.
    • Actuals: 5,000,000 CAD x .15 = 750,000 MXN
    • Forecast: 5,000,000 CAD x .155 = 775,000 MXN

Constant Currency

Business Scenario: You want to see companies' annual growth in a model currency (such as USD) but you want a flat conversion rate applied so you filter out the currency conversion impact on your figures.

  • The Default Currency (USD) values are translated with the monthly average exchange rates for 2020. For example:
    • Jan: 11,655.9 x 1.1 = $12,821.5
    • Feb: 17,302.5 x 1.15 = $19,897.9
  • The USD in Constant ER (USD) values are translated with the Jan average exchange rate for 2020. For example:
    • Jan: 11,655.9 x 1.1 = $12,821.5
    • Feb: 17302.5 x 1.1 = $19,032.7

Scenario: Configure Tables for Currency Values

Can you help the analyst?

Use a Data Action to Perform Currency Translation

Business Scenario

You have created and configured your data action and now you need to perform currency translation in order to convert local currency values to ABC Corporation's group currency.

What skills will you develop in this practice exercise?

In this practice exercise, you will:

  • Configure the table widget in your story
  • Calculate a new currency measure in the story
  • Add a data action to the story to convert local currency to group currency
  • Run the data action to convert currency in the story

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