An exchange rate cannot be found

You might get the following error in AX 2012 (typically when running a report):

An exchange rate cannot be found for exchange rate type [TYPE] between currencies [CUR] and [CUR] on exchange date .

[TYPE] represents the currency type [CUR] represents currencies.

Please try the following solution:

1. Go to General ledger > Setup > Currency > Currency exchange rates
2. Choose the default exchange rate type
3. a) Add a new exchange rate to all conversions with a blank start date OR
   b) Remove the start date from one of the currency rates on all conversions