Currency Exchange Rate Service

An interesting functionality in NAV is Update Currency Exchange Rate functionality. It allows users to automatically update exchange rate for all their currencies automatically, using web services. For users working in multi-currency environment, this functionality can save a lot of time and reduce number of errors that could happen if exchange rates were entered manually.

Firstly, create a new Currency Exchange Rate Service. In this example we have used ECB (European Central Bank). Be sure to fill in URL as: http://www.ecb.europa.eu/stats/eurofxref/eurofxref-daily.xml

Then choose the Source:

Now fill the remaining sources:

When all sources are entered you can enable the service:

Once enabled, you can update currency exchange rates from the currencies list. Simply click on Update Exchange Rates.

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