Currently I am unable to get the AP Foreign currency re valuation in the AP module to use the Closing rate in order to re value payables at month end. It only uses the default rate.
I have changed the revaluation exchange rate type to closing on the main account level and this did not change the rate used in the re valuation.
The bank revaluation had to be set up like this in order for the re valuations to work properly using the closing rate in the bank module, however this does not seem to work in the AP and I cannot find a solution or place to change what rate is used.