The conversion sets the latest exchange rate for each currency as the active exchange rate for that currency, even if the exchange rate had an expiration date before conversion. Exchange rates are effectively open until a new exchange rate is created for that currency with a later start date.

In QAD Enterprise Financials, any exchange rates between two specific currencies are always stated in terms of the From currency. For example, if an exchange rate is created from Currency 1 to Currency 2, you cannot then create an exchange rate from Currency 2 to Currency 1. If this situation exists pre-conversion, the conversion updates the exchange rates so that they are consistent.