Hi Taro,
Many thanks for your reply and suggestions. We were trying to automate it and configured 2 posting areas. Posting area 1 will post in account currency while posting in posting area 2 will be in foreign currency and found the SAP note 999974 which exactly meets our requirement. However for some reason the custom function module specified in the note is not getting called in our scenario and it is still picking the M rate rather than the IHC defined rate. We are in a release above the level specified in the note. Hence we are checking with SAP whether the note is applicable for our release (617). Will update you with SAP's reply.
Regards,
Ravi