Valuation is not contained in the currency and valuation profile

What causes this issue?

Currency and valuation profile &V1& is assigned to controlling area
&V1&. Valuation &V3& is not contained in this.

How to fix this error?

You can only assign to valuations that are contained in the currency
and valuation profile.
If required, you must change the currency and valuation profile you are
assigning to. Alternatively, you can create a new one and assign it to
the controlling area.

Error message extract from SAP system. Copyright SAP SE.