Advanced Currency Management and dated exchange rates
Key Takeaway
Advanced currency management isn't available in Agentforce Financial Services when multiple currencies is enabled, so a consultant can't recommend dated exchange rates there. Without dated exchange rates, every currency conversion uses one static conversion rate per currency.
Advanced currency management is a Salesforce multiple currencies option that replaces the one static conversion rate per currency with dated exchange rates. With dated exchange rates, an amount converts at the rate in effect on a relevant date, such as an opportunity's close date. Dated exchange rates cover opportunities and closely related objects and reports, not currency fields on other objects. In Agentforce Financial Services, advanced currency management isn't available when multiple currencies is enabled, so a consultant needs to know what it does and why it can't be recommended there.
Multiple currencies basics
Multiple currencies is the foundation for advanced currency management. With multiple currencies, the admin sets the corporate currency and activates the currencies the company does business in. The admin keeps a conversion rate for each active currency, relative to the corporate currency. Only active currencies can be used in currency amount fields. Each user also has a personal currency.
Salesforce converts an amount in two steps. First, it converts the amount from the record currency to the corporate currency. Then it converts that result from the corporate currency to the user's personal currency.