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Product insert, no standard price defined error

Knowledge Article Number 000187299
When working with Products and Multiple currencies, be mindful that the standard price book requirement exists for products with prices in multiple currencies.
What does this mean?
It is already known that in order for a product to exist in custom price books, the product must already exist in the default Standard Price Book.  If the customer intends to list a single product in multiple currencies, unique entries for the product must exist in the default Standard Price Book for each currency.
As an example, Product 1 will be sold in three total currencies.  Product 1 must be added to the default Standard Price Book three times, once for each currency.

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