diff --git a/public/js/transaction.js b/public/js/transaction.js
index d52b742228..664bbe2f9e 100644
--- a/public/js/transaction.js
+++ b/public/js/transaction.js
@@ -499,16 +499,16 @@ erpnext.TransactionController = erpnext.stock.StockController.extend({
 		this.frm.doc.conversion_rate = flt(this.frm.doc.conversion_rate, precision("conversion_rate"));
 		var conversion_rate_label = wn.meta.get_label(this.frm.doc.doctype, "conversion_rate", 
 			this.frm.doc.name);
-		
-		if(this.frm.doc.conversion_rate == 0) {
-			wn.throw(wn._(conversion_rate_label) + " " + wn._("cannot be 0"));
-		}
-		
 		var company_currency = this.get_company_currency();
 		
 		if(!this.frm.doc.conversion_rate) {
-			wn.throw(wn._("Please enter valid") + " " + wn._(conversion_rate_label) + 
-				" 1 " + this.frm.doc.currency + " = [?] " + company_currency);
+			wn.throw(wn._('%(conversion_rate_label)s is mandatory. Maybe Currency Exchange \
+				record is not created for %(from_currency)s to %(to_currency)s'), 
+				{
+					"conversion_rate_label": conversion_rate_label,
+					"from_currency": self.doc.currency,
+					"to_currency": company_currency
+				});
 		}
 	},
 	
diff --git a/utilities/transaction_base.py b/utilities/transaction_base.py
index 0f4d6bcacd..684da46795 100644
--- a/utilities/transaction_base.py
+++ b/utilities/transaction_base.py
@@ -426,15 +426,15 @@ def get_address_territory(address_doc):
 def validate_conversion_rate(currency, conversion_rate, conversion_rate_label, company):
 	"""common validation for currency and price list currency"""
 
-	if conversion_rate == 0:
-		msgprint(conversion_rate_label + _(' cannot be 0'), raise_exception=True)
-	
 	company_currency = webnotes.conn.get_value("Company", company, "default_currency")
-	
+
 	if not conversion_rate:
-		msgprint(_('Please enter valid ') + conversion_rate_label + (': ') 
-			+ ("1 %s = [?] %s" % (currency, company_currency)),
-			raise_exception=True)
+		msgprint(_('%(conversion_rate_label)s is mandatory. Maybe Currency Exchange \
+			record is not created for %(from_currency)s to %(to_currency)s') % {
+				"conversion_rate_label": conversion_rate_label,
+				"from_currency": currency,
+				"to_currency": company_currency
+		}, raise_exception=True)
 			
 def validate_item_fetch(args, item):
 	from stock.utils import validate_end_of_life