---
title: Currency Exchange Rates
slug: currency-exchange-rates
icon: 📃
docTags: 
createdAt: 2023-11-20T16:08:09.210Z
---

Maintains records of the foreign currency exchange rates and their effective date. This table can be manually created or created from a reporting service. See [Gravity Foreign Currency Implementation](docId:3zjkQISN3Iu6KWUHFcrLt). FX rates are created once for all Entities.

Gravity uses the Open Exchange Rates organization ( [https://openexchangerates.org/)](https://openexchangerates.org/) to supply the FX Rates. To set up automatic exchange rate updates, select the Master Entity and define the following:

![](https://api.archbee.com/api/optimize/X2aA_MKMIQid52VOc-G4k/t56CZg-L7tGVGHjmvHEEo_image.png)

### Exchange Rate Frequency

Set the Following option:

- Daily
- Weekly
- Monthly
- Manual - at manually add the exchange rates. 

### Open Exchange AppID

Use the ID "d371ead4f02e4e1c927b18a14cadf618"

### Next Currency Update

Set the date of the next update.

## General

![](https://api.archbee.com/api/optimize/X2aA_MKMIQid52VOc-G4k/oAs8WZA4q-4lAg7UHmYp7_image.png)

### Name

Enter a name for the record. We recommend a name that includes both currencies for easy identification such as "CAD to EUR"

### Effective Date

Enter the date that the FX rate becomes effective. When entering a transaction the Apply Date used will be matched with the Effective Date to apply the FX rate.

### From Currency

List the from Currency

### To Currency

List the to currency

### Rate

Enter the FX Rate.