Exchange rate VS contolling area

Hi,
I have a scenario:
Controlling area: 0001     controlling currency:USD
Company Code     Local currency     Controlling area
=========================================
1000                       SGD                      0001
2000                       RMB                      0001
3000                       KRW                      0001
4000                       AUD                       0001
5000                       MYR                      0001
6000                       PHP                      0001
And so on.
Shoud I MUST maintain the exchange rate between these currencies? Why?
Thanks&Regards,
Don

Hi Andrew,
Thanks for you information!
Actually,this issue comes from our current system problem. we added a new company code in the system with the same controlling area. For the new company,everything is ok. but for an old company,FI posting does not work since the new company added(we can't do any FI transaction).And the system give us an error message. It looks like:
Enter rate SGD / KRW rate type M for 2009.04.17 in the system settings
Message no. SG105
Diagnosis
For the conversion of an amount into another currency, an entry is missing in the currency conversion table.
Procedure
Add the missing entry in the currency conversion table.
Execute function
after we maintain the exchange rate between SGD and KRW,it is working now. But we don't know what is the root reason. Why the new company code works fine before maintained the exchange rate.
New company local currency is :SGD
The old company local currency is :KRW
Thanks & Regards,
Don

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Exchange rate VS contolling area

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