How to manage currency exchanges in budget? (2012 SP2)

QUESTION:
Could you explain how exchange rates are managed in Budget?

When a conversion is done in a given currency, which date is used? Is it the date of the update of the budget, or is it the planned dates, or another date?

If rates are used in a report, would they change?

ANSWER:
When the items get populated in the budget (for example billing rates/cost rates in services which have different currency) the current exchange rate is used for converting to the budget currency. "Current" meaning the exchange rate from the date when the item is populated, i.e. gets inserted into the budget.

On the reports:
For the budgeted side, the current exchange rate is used.
For the Actual side, the behaviour depends on the value of CurConvertDateUsed column in ServerSettings table.

a) If ServerSettings.CurConvertDateUsed=0 Changepoint uses today’s exchange rate
b) If ServerSettings.CurConvertDateUsed=1 Changepoint uses CreatedOn date of the item, e.g. time, expense, etc.