Skip to main content

Notifications

Announcements

No record found.

Small and medium business | Business Central, N...
Suggested answer

Currency exchange rates services for UK and DE

Posted on by 315

Hello ! 

I have a question. I want to set up currency exchange rate service for my companies in UK and Germany. Which bank supports this service in the UK and which in DE? I only found information about the ECB, but I don't know if it is preferred for these countries. Could I have some materials that I could follow when setting this up?

Thank you in advance! 

  • AntonioKD Profile Picture
    AntonioKD 315 on at
    RE: Currency exchange rates services for UK and DE

    And do you know the possibilities of connecting with the currency exchange service from Bank Of England? www.bankofengland.co.uk/.../Rates.asp

  • Suggested answer
    JAngle Profile Picture
    JAngle 33,159 on at
    RE: Currency exchange rates services for UK and DE

    The original link I provided has some similarities. Still use the exchange rate service setup. Eventually you get a data exchange definition created. Add a dummy value until you do. Download a xml file of the hmrc data. Go to the data exchange definition and locate a “get file structure” and choose the xml file. That will insert all the fields. You can then choose the ones that need to be passed into BC with the field mapping section

  • AntonioKD Profile Picture
    AntonioKD 315 on at
    RE: Currency exchange rates services for UK and DE

    OK, thank you! Do you have any instruction how to set up the Currency exchange rate service from HMRC?

  • Suggested answer
    JAngle Profile Picture
    JAngle 33,159 on at
    RE: Currency exchange rates services for UK and DE

    HMRC has two choices. CSV or XML. It's a URL per month in terms of the XML option: www.hmrc.gov.uk/.../2021-exrates.html

    That seems like an acceptable avenue. Altering the URL to be correct each month will probably need some development - URL for data is like this: www.hmrc.gov.uk/.../exrates-monthly-0721.XML

  • AntonioKD Profile Picture
    AntonioKD 315 on at
    RE: Currency exchange rates services for UK and DE

    Thank you Josh!

    But do you know if it is possible to connect Business Central with HMRC (www.gov.uk/.../hmrc-exchange-rates-for-2021-monthly) as a currency exchange rate service for UK?

  • Suggested answer
    JAngle Profile Picture
    JAngle 33,159 on at
    RE: Currency exchange rates services for UK and DE

    First consideration being what FX rate site do the accountants in those companies currently follow? Do they have a web service? If so try and set it up to use that. If they don’t mind which FX site you could try this free one: https://yzhums.com/7341/

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

Quick Links

December Spotlight Star - Muhammad Affan

Congratulations to a top community star!

Top 10 leaders for November!

Congratulations to our November super stars!

Tips for Writing Effective Suggested Answers

Best practices for providing successful forum answers ✍️

Leaderboard

#1
André Arnaud de Calavon Profile Picture

André Arnaud de Cal... 291,269 Super User 2024 Season 2

#2
Martin Dráb Profile Picture

Martin Dráb 230,198 Most Valuable Professional

#3
nmaenpaa Profile Picture

nmaenpaa 101,156

Leaderboard

Featured topics

Product updates

Dynamics 365 release plans