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

Automatic Exchange rates

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Posted on by Daniel Wiklund 705

Hi guys!

Hope you all are having a warm and sunny summer!

I'm about to setup the automatic exchange rates in AX.  Per default there is 3 different provider. When I'm importing from European Central Bank I'm getting the EUR -> (Currency) exchange rates.

What I'm wondering is if you have to setup a web service for each currency? For example, if I want SEK (Swedish Krona) exchange rates, do I have to find another currency web service that can provide AX with these exchange rates?

Thank you!

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  • Suggested answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,035 Super User 2025 Season 2 on at

    Hi Daniel,

    Indeed there are three exchange rate providers out of the box. If there is a web service for Swedish Krona, you can create your own exchange rate provider to import the rates. I don't know if a web service is avaiable.

    There is a guide how to create additional exchange rate providers. You can find it here: www.microsoft.com/.../details.aspx.

    A new exchange rate provider can be configured that a web service with SEK can be imported.

  • Martin Dráb Profile Picture
    Martin Dráb 237,882 Most Valuable Professional on at

    Sorry if I didn't get the problem, but do you want rates for all currencies? Don't you want to use Euro as a triangulation currency?

  • Daniel Wiklund Profile Picture
    Daniel Wiklund 705 on at

    Hi guys!

    Thank you so much for your replies!

    @Andre - Thanks! I know this and it's Perfect. I was just wondering if I could use the EURO as triangualation for all currencies to get the rates for all currency SEK -> OTHER_CURRENCY without having to develop new web services.

    @Martin - Yes, like SEK -> CAD - CAD -> SEK. Can I use triangulation for this?

    Example:

    We only have EUR -> SEK from the European Central Bank. Can I use this Connection (Web service), from the European Central bank to get all the currency rate With SEK -> CURRENCY by using triangulation?

  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,035 Super User 2025 Season 2 on at

    Hi Daniel,

    If you are using the Euro as triangulation, you will convert using the Centra Bank of Europe exchange rates. Possibly these are different when you would use SEK.

    You can try it, ,but I would suggest to test it in a separate environment first.

    At a customer we described a customization to calculate cross rates based on the ECB rates. Then the EUR rates are imported. Another exchange rate type will be maintained with calculated rates where another currency is the base.

  • Daniel Wiklund Profile Picture
    Daniel Wiklund 705 on at

    Thank you for your reply Andre!

    Okay, I see. Then we need to develop a web service for SEK to get the Exchange rates from the Swedish Central bank.

    What is best practice here? Is triangulation mostly used when one currency is going over to another or is it also used for the above described scenario? Simply to get the current Exchange rates.. But of course, for me the best idea is to get the exchagne rates from the Central bank without triangulation, but I thought maybe we didn't have to develop another web service..

    Thank you so much for your help!

    / Daniel

  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,035 Super User 2025 Season 2 on at

    Hi Daniel,

    Triangulation is indeed used for converting currencies, using a third exchange rate, commonly the Euro. It will enforce to first calculate the amount to the euro, then to the target currency. Eg. SEK > EUR > CAD in stead of directly SEK > CAD.

    I'm not aware of possible differences between calculations from e.g. EUR to SEK and EUR to CAD or the exchange rates used in Sweden directly from e.g SEK to CAD.

    So I think the best would be to use an exchange rate provider from a bank in your own country.

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