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Are you using out of box functionality of Workforce?
You can use the transfer functionality to transfer employee from one Cost Center to another? If Cost Center is not your entity dimension then you need to customize the out of box rules a bit.
How will alternate hierarchy help you in this case? Employee and Cost Centers are seperate dimensions or are they clubbed in one.
I think it should be the former case, isnt it?
I think I need to customize Transfer rule, only problem is, After currency conversion, value of US dollar double, Do i need to clear the local currency or i need to customize the business rule?
Can you paste the logic that you have currently for conversion?