Currency Rate

The currency rate page in a loan management system is like a foreign exchange translator for your loans. It helps you deal with loans in different currencies (like USD, LAK, THB)  

 

 

 Example: Imagine you have a loan in Thai Baht (THB) but your system tracks things in US Dollars (USD). The currency rate tells the system how much 1 USD is worth in THB (e.g., 1 USD = 35 THB). This allows the system to:

 

 Calculate Loan Amounts: When a loan is issued in THB, you can enter the amount and use the exchange rate to convert it to USD for internal tracking. 

 Record Payments: If someone repays part of a THB loan in USD, the exchange rate helps convert it to the correct THB amount for your records. 

 Track Interest: Interest earned on the loan (in THB) can be converted to USD using the rate for accurate reporting. 

 

 

 

 

 Two Ways to Set Rates:

 

 Manual: You can enter the exchange rate yourself on Currency Rate Page , useful for specific situations or currencies not offered by BCEL. 

 BCEL Automatic:  This will daily update automatically  

 

 

 

 Currency Rate page 

 

 These rates are used when converting the collection in the collection receipt module and Loan disbursement process, also some journal entries. 

 

 Functionalities 

 

 User can see all the Currency Exchange Rates on the Currency Rate List page. 

 User can add all the Currency Exchange Rates on the Add Currency Rate page. 

 User can edit all the Currency Exchange Rates on the Edit Currency Rate page.

 

 Note : Edit Action available only for Today rates. 

 

 

 

 BCEL Currency Rate Page 

 

 BCEL is a bank in laos. Here the exchange rates are fill according to the BCEL. 

 Exchange rates are fill automatically through the system for each day. after that, staff member can check these values and approve the rates.

 

 

 

 

 

  From USD to LAK 

  From USD to THB 

  From THB to LAK 

  From THB to USD 

  From LAK to THB 

  From LAK to USD  

 

 

 

 

 

 

 

 NOTE: In our system, BCEL Rates are used for Journal entries.