Exchange rate type P is picking in contract master while ist should take M

exchange rate is maintained for M and P in OB08, we want to get the exchange rate from exchange rate type M to contract master. but it is picking from Exchange rate type P. where as echange rate 'M' maintained as a current yaer( 2011) . but exchange rate P maintained of 2010 ( previous yer). but still its a taking exchange rate type P. we want to take it From M.
Please guide us........facing this issue for so many days....
Thanks in advance....

Hello,
By default exchange rate type M will be used unless another exchange rate type for e.g. P is specified as Alternate exchange rate type. Then translation rate taged to exchange rate type P will be used.
Check "Alt. ERT"  (Alternate exchange rate type) in OBBS, the suggestion is if exchange rate type M is desired then the "Alt. ERT" input should be empty on the row where exchange rate type 'M' and the corresponding currency pair for e.g. USD:GBP (assuming USD is local currency and GBP is foreign currency) is maintained.
Kind regards,
John Chin

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