Multi-currency conversion pricelist is a new functionality that is available in R12. Historically separate price lists need to be maintained for each currency. If you customers are global and based on geographical location you are forced to maintain multiple price lists even though the list price is same.

Using this new R12 functionality, you can maintain single pricelist for multiple currencies.

Navigate to Oracle Pricing Manager responsibility -> Price Lists -> Multi-Currency Conversion.

Using the above screen you can maintain the multiple currency conversion rates for a base currency. Later you can attach this multi-currency list to multiple pricelist and agreements.