Well, if you are not using consolidation model which means you do not have group. Then you could simpliy translate convert any currency via the following script
*RUN_PROGRAM CURR_CONVERSION
CATEGORY = %C_CATEGORY_SET%
CURRENCY = %RPTCURRENCY_SET%
TID_RA=%TIME_SET%
RATEENTITY=GLOBAL
*ENDRUN_PROGRAM
if you are using consolidation model which involves group type dimesnion and ownership, then you could use
*RUN_PROGRAM CURR_CONVERSION
CATEGORY = %C_CATEGORY_SET%
GROUP= %GROUP_SET%
TID_RA=%TIME_SET%
RATEENTITY=GLOBAL
*ENDRUN_PROGRAM
Maybe others could explain in more detail from business point of view.