Base Currency Code

A three-position alphanumeric code, stored on the Currency Rate Master File, that identifies each foreign currency used in system processing.  This code is assigned on the header record of each foreign currency journal.  Currency codes are also assigned to Account/ Center Master File accounts to identify the currencies in which journal transactions can be entered.  If a currency code is entered on the master record, that account can accept journal transactions entered in either the foreign currency associated with the currency code, or the bookkeeping currency.