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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Foreign Exchange rates
Microsoft Dynamics AX (Archived)

Foreign Exchange rates

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Posted on by lally 8

Hi All ,

Does any one experience with ONADA exchange rates service provider integration with AX implementations ?

Assume that we need to roll out AX 2012 R3 in many countries like USA , CAN, UK , DEN, CH, IND SG... , in this case if we import the ONADA exchange rates in one company-USA  , can we use the same exchange rates in all other legal entities also in AX 2012 R3 ?

or 

do we need to maintain the exchange rates legal entity wise if we import from ONADA ?

What would be best practice and share your thoughts on this ?

Thanks in advance

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  • Suggested answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,025 Super User 2025 Season 2 on at

    Hi Lally,

    The exchange rates are maintained as global data in AX. You can choose per legal entity which exchange rate type will be used in the base. An exchange rate provider has a base currency. Also legal entities has a base currency. From my experience it would be the best to use an exchange rate type per base currency. So in that sense having only ONADA does not fulfill this.

    You can however try to create additional exchange rate types and have these filled based on one base provider. You have to create a customization which will calculate cross rates then.

    Some countries might require an own exchange rate provider from their local centra bank. In that case also ONADA is not the solution.

    PS There is a whitepaper describing how to create additional exchange rate providers. The example used is ONADA: www.microsoft.com/.../details.aspx

  • lally Profile Picture
    lally 8 on at

    Thanks for the reply Andre ,

    [quote user="André Arnaud de Calavon"]From my experience it would be the best to use an exchange rate type per base currency[/quote]

    Sorry , I did not get this point .

    One more thing is the exchange rates are maintained as global data in AX and will define the exchange rate type in the ledger form .

    The question is if i import from the ONADA for the exchange rate type - Default , then it contains the all currency exchange rate pairs , so the same type can be used for all legal entities also .

    What is the point to have the different exchange rate providers ? 

     

  • Verified answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,025 Super User 2025 Season 2 on at

    Hi Lally,

    Exchange rate currency pairs are created from a base currency e.g. USD

    e.g.

    USD-EUR

    USD-GBP

    USD-ZAR

    If you have a currency with the base in EUR is cannot calculate the exchange rate from e.g. EUR to ZAR then you need to have another exchange rate type based on a base currency EUR

    EUR-GBP

    EUR-USD

    EUR-ZAR

  • lally Profile Picture
    lally 8 on at

    Thanks Andre for the reply ,

    That means exchange rate providers count will depend on the how many countries /how many base currencies we are implementing in AX .. right ?

    Normally what is the best way to find out that which exchange rate provider should be consider to import the exchange rates for base currency wise or country wise ?

  • lally Profile Picture
    lally 8 on at

    Any help  on this ?

  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,025 Super User 2025 Season 2 on at

    Hi Lally,

    Usually the offices in each country will be able to tell which exchange rate providers are available for them and allowed to use. You have to ask the persons in the countries. There is nobody knowing this for all countries/currencies. This is the method we use for international implementations. In addition you can try to find out the name of the central bank per country and if they support the rates with an exchange rate service.

  • lally Profile Picture
    lally 8 on at

    Thanks for the reply and completely agree with the process what you suggested.

    Does ONADA will be used by most of the customers for import the exchange rates as AX 7 shipped with ONADA service provider as out of box ?

  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,025 Super User 2025 Season 2 on at

    Hi Lally,

    I cannot anser this. I have not seen the ONADA being used with my the European customers. I don't know where this provider is popular or not.

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