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Use of Multi Currency in Clarity

Question asked by Vasanth on Sep 14, 2009
Latest reply on Sep 17, 2009 by Vasanth
Dear Friends,  I would like to know what are the Benefits of having Multi Currency:-  Does it help in rolling up Financial information for Projects which are tagged to different entities?For Example:Project A is associated with Canada Dept (Whose currency is CAD)
Project B is Assocaited with China Dept (Whose currency is CHY)When the information in the financial plans is entered for the above, the currency shown in the plans is CAD and CHY respectively.
We have the exchange rates setup accordingly.When we try to add the above projects as subprojects to Project in US (Entity) and see the financial rollup we see that the
financial amounts all show up in USD and no currency conversion takes place.How do the exchange rates work? Is it only useful for Reports? I have also tried the OOB Budget/Forecast Analysis report but it also does not
do any kind of conversions.Please let me know your thoughts...  Thanks,Vasanth