We also want to enable the Advance Currency Feature, but the problem is that salesforce is currently supporting very few Object like Opportunity and Opportunity Product etc. I know that the advance currency feature will look at the Opportunity Close Date and then apply the correct dated currency rate to the records to display the converted currency fields in the supported object.

I also know that the problem or issue with this feature to support the custom objects is to identify the date which will be used for the dated currency. it could be the created date or last modified date etc or may be if the custom object has a master detail relation then the dated currency could also use the date field from the parent object.

I came to know that the dated currency feature might support the custom objects in some future release. The dated currency feature is a very useful feature and we would like this feature to support all the custom objects and standard objects. And there should also be an option in the object (standard and custom) to select the date field which will be used for the dated currency rates (like currently this feature uses the opportunity close date to get the correct dated currency rate). This option will allow the users to select a date field with in the custom object like the created date or last modified date or any other date field in custom object or the date field from its parent object if it is in a master detail relation ship.