Exchange Rates

Menu > Tax Data > Currencies > Exchange Rates

Use this page to view and manage configured exchange rates belonging to a configured exchange rate source. You must configure at least one source before using this page.

This page only displays data maintained in the database. If you are using a Java-based exchange rate source, you will not be able to use this page. In this case, use whatever program is provided by your rate provider to view and modify individual rates.

Before using this page for the first time, please review Currencies.

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This page consists of the following areas and their associated tasks:

Exchange Rate Source Filter: Select the desired exchange rate source whose rates you want to list.
Exchange Rates List: Select or view data about the exchange rates currently associated with the selected exchange rate source.
Selected Exchange Rate Tasks : Manage the selected exchange rate or add a new exchange rate.

Exchange Rate Source Filter

Use this section to select the exchange rate source whose rates you want to manage. When you select an exchange rate source, the exchange rates list is populated by all rates contained in that source.

Exchange Rates List

When you select an exchange rate from the list at the bottom of the page, the Selected Exchange Rate section is populated with data related to that exchange rate. The list is presented using the following sort order:

From Currency (ascending)
To Currency (ascending)
Start Date (descending)

For a complete description of the contents of the fields in the list, see the table at the end of this topic.

Selected Exchange Rate Tasks

Use this section to add, modify, or delete an exchange rate.

Using an Intermediate Currency for currency conversions greatly reduces the number of individual exchange rates that must be maintained. See Exchange Rate Sources for more details.

Add a new exchange rate

If this is the first exchange rate configured, skip this step. If it is not, select Add from the Actions menu.
Enter data using the field reference below.
Click Submit to save your changes.

Modify an exchange rate

Select the exchange rate from the Exchange Rates List.
Modify data using the field reference below.
Click Submit to save your changes.

Delete an exchange rate

Select the exchange rate from the Exchange Rates List.
Select Delete from the Actions menu.
Click OK to confirm the deletion.

To Export exchange rates, see the Exchange Rate Sources page. Exchange rates can only be exported as part of an exchange rate source.

Exchange Rates Field Reference
Field	Req?	Description
From Currency	Y	The currency from which you want to convert.
To Currency	Y	The currency to which you want to convert.
Rate	Y	The actual conversion rate to six decimal places (for example, .850005). For example, you might enter a rate of .8911 when converting from Canadian dollars to US dollars.
Start Date	Y	A start date for the exchange rate.
End Date	Y	The end date for the exchange rate. This is automatically computed based on the Update Frequency associated with the selected exchange rate source, but can be overridden on this page. Unlike all other end dates in ONESOURCE Indirect Tax Determination, this end date is Required.
Mirror Exchange Rate	Y	Default is unchecked. When checked, creates a mirrored exchange rate when this exchange rate is saved. The mirrored rate is the reciprocal of the rate you are configuring. For example, if you create an exchange rate of US dollars to euros with a rate of .7799, a mirrored exchange rate of euros to US dollars with a rate of 1.2822 will also be created with the same Start and End Dates.