The following currencies are used in SAP solutions.
Ø Local Currency: - This is company code currency, which is used for generating financial statements for external reporting. Sometimes it is called operating currency.
Ø Group Currency: - Group currency is the currency that is specified in the client table and used for consolidation purpose.
Ø Hard Currency: - Hard currency is a country-specific second currency that is used in countries with high inflation.
Ø Index-Based Currency: - Index-Based currency is a country-specific fictitious currency that is required in some countries with high inflation for external reporting [for example, tax returns].
Global Company Currency: - Global company currency is the currency that is used for an internal trading partner.
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