Enter an amount between $0.00 and $XXXX. Error for custom currency field in Dynamics 365 V9.x on-premise

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Now this was strange. It was kind of embarrassing as well in front of the customer. So my customer had quite a number of currency fields on a custom entity form. Some were calculated and some were for entry by the user. Also the currency they created was a custom currency.
Whenever they were entering a value in those currency fields, they were getting the below error.

It was kind of strange since this is something I never faced. To be honest this was a project on Dynamics 365 on-premise after quite sometime and my initial hunch was this is an on-premise issue. So I replicated the whole step in a Vanilla online environment but it is working fine there. Then I checked if the currency base fields were setting correctly or not. Cross checked in advanced find and everything was fine.
Searched the heck out of Google but not to find any luck.
And finally as last measure I went ahead and dragged and dropped the Currency Lookup (transactioncurrencyid) field on the form.
Once I did that and published the form, much to my relief, everything was working fine.

Hope this helps!
Debajit Dutta
(Microsoft MVP)