IBM WebSphere Multichannel Bank Transformation Toolkit, Version 7.1

Conversion currency

The conversion currency is the currency that a financial institution uses to calculate a foreign exchange when a direct conversion rate between two currencies does not exist. For example, a customer of a Peruvian bank wants to convert Peruvian sols to Canadian dollars, the bank does not have a direct conversion rate between the two, so the bank first converts the sols to US dollars (the bank's conversion currency) and then converts the US dollars to the Canadian dollars.

To complete the coverage for the Foreign Exchange component, the datastorage containing the foreign exchange rates should contain the foreign exchange rates between the conversion currency and every other currency in the world.



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