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Terminology Clarification

edited Sep 4, 2013 11:05PM in General Ledger - EBS (MOSC) 4 commentsAnswered
I have 2 operating  units  one is the US ( also the headquarter) and one in Mexico which  I enter transaction in Mexican Peso and this gets translated to USD using the daily exchange rate. 

My question is for Mexico, what do you call the  currency that I  use for entering transactions,  do you call it functional currency?. What is functional currency by definition? 

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