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Can we update the Default Conversion Rate Type for reporting and secondary ledger

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Summary:

We have a requirement for update the Default Conversion Rate Type for Reporting and Secondary ledgers.

Content (required):

1. We can see the rate type field is editable for the Secondary Ledger in Complete Primary to Secondary Ledger Mapping task. The question is what will be the impact if we change the default conversion rate type. Is there any risk? Will the change be on go forward basis? What will be the impact on the already translated balances in previous periods.

2. For the reporting ledger in Manage Reporting Currencies task, under Currency Translation Options the default conversion rate type field is greyed out. Is there any option to update this? We reviewed the 

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