Note:- This feature is enabled for an organization only on request. Please reach out to support@fyle.in if you wish to have this feature.

Key functionalities:

  • This feature allows an organization to choose a currency exchange rate provider of its choice.

  • By default, the exchange rate for any foreign currency expense is obtained by a service called CurrencyLayer. But an organization can choose a different service or even define its own exchange rates.

How to select an Exchange Rate service:

  • Go to the Settings page from the Organization view.

  • Select Exchange Rates under the Organization Settings.

  • Click on the Enable Exchange Rates for this Org button.

Enabling exchange rate services

How to choose an Exchange Rate service of your choice?

  • Once the feature is enabled, you will be able to choose an Exchange Rate service of your choice.

  • Go to the Settings page from the Organization view.

  • Select Exchange Rates under the Organization Settings.

  • You will see an option to select a currency exchange rate service.

Choosing the exchange rate of company admin's choice
  • Choose the exchange rate service of your choice and click on Save.

Choose the exchange rate service
  • By default, only a limited number of options will be shown. Apart from the services shown in the above picture, we also provide support for OANDA and XE exchange rate services. If you’re interested to choose those services, please reach out to us at support@fyle.in.

  • Once you choose a service provider for the exchange rates, whenever you’re creating an expense with a foreign currency, the exchange rate will be provided by the service chosen.

Expense form
  • Note that, if a custom exchange rate service is set manually for a given period of time and enabled, it will take precedence over any other service chosen.

Custom exchange rate

To read more about setting custom exchange rates manually, read this article.

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