Update currency rates
Use this function to update the daily currency rate from a currency rate provider when you connect through the FX Rate Service, provided by Sage. This service pulls rates from an external provider such as Open Exchange Rates (OER). Rates are paired with the Euro as the base currency by default, but you can change the base currency.
Not all rates exist in the service.
You can only update the rate for a currency if at least one rate for that currency already exists in Sage X3, including existing currency rate pairs. You need at least one rate entered manually to be able to update automatically.
Dates
Rates from the service are saved and applied the next day.
For example: An exchange rate is announced on March 6 and is saved in Sage X3 on March 7.
If you enter a date prior to the current date, it is possible that the historical values for a given rate pair is not available.Requirements
If you are unsure or do not have access, ask your administrator or business partner for assistance.
You need to set up the Rest web service to connect with the FX Rate Service by Sage to update currency rates.
1. In the REST web services function, enter CURRATAPI for the name.
2. Add the Base URL: https://prod.sharedservices.sage.com/api/FXRateEndpoints/rates.
3. Select JSON for Content Type and None for Authentication.
In Recurring task management, enter the recurring task code CURRATAPI to update rates on a customized schedule.
Understanding resuls in the Log file
When you update rates, a log file provides information on the status of the update.
Common messages
- Source currency CHF
Date: 2022-01-25 CHF/EUR: 0.963652 created on 2022-01-26T08:39:57Z Query response OK: The currency rate between the two currencies was successfully updated according to the dates posted and, in the case, at a rate of 0.963652. - Source currency EUR
Exchange rate already exists for this date 2022-01-25: Query response OK: A rate exists for the rate pair and date. The query was successful, and there was no update needed. This can also happen when the rate was updated manually. - Source currency AFN
No currency exchange rate found for the source currency: The source currency does not exist in Sage X3. You need to add the rate manually before you can update it. - Source currency CDF
CDF/ZAR not found. Query response ERROR_NOTFOUND: The exchange rate for the currency pair is not supported by the web service. - Exchange rate already exists for this date 2022-01-25: JPY/EUR. Query response OK_INVERSE: A rate has been returned that has been calculated from the inverse rate returned by the provider.
Learn more at Sage FX Rate Service.
Screen management
Entry screen
Presentation
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Fields
The following fields are present on this tab :
Criteria
| Select this checkbox to update all currencies for the selected date. Remember, you can only update currencies that have already been added manually to Sage X3. |
| If you have not selected the All currencies checkbox, you can enter or select a currency that has already been entered in Sage X3. You do not need to select EUR because it displays automatically. |
Block number 2
| Enter or select a date for the exchange rate on that date. The rate is saved in Sage X3 on the following date. If you enter a date prior to the current date, historical values might not be available. |
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