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Exchange Rate Service Setup

Overview​

Currency Exchange Rate Services can be configured for both traditional fiat currencies and cryptocurrencies. This guide covers the general setup process applicable to all service types.

For cryptocurrency-specific setup details, see Cryptocurrency Exchange Rate Setup

Initial Setup Wizard​

  1. After installation, open the Assisted Setup list and select "Currencies Exchange Rate Services Setup.".

    image-20231228-142632.png

  2. Follow the setup wizard instructions to choose the desired service from the provided list:

    image-20250121-211654.png

Available Services:
- European Central Bank
- Sveriges Riksbank
- Bank of England
- Danmarks Nationalbank
- Open Exchange Rates
- CoinGecko (Crypto) πŸ†•
- CoinMarketCap (Crypto) πŸ†•
- CryptoCompare (Crypto) πŸ†•

  1. Upon completion, the system will display a list of created Currency Exchange Rate services. Enable the service for automatic import by switching the "Enable" field and accepting the terms and conditions when prompted.

    image-20251223-161251.png

Service Configuration​

Currency Filter​

User can set "Currency filter" field - that filter specifies which currency rates user wants to import from current source.

Examples:

  • Empty - Import all available currencies

  • USD - Import only US Dollar

  • USD|GBP - Import US Dollar and British Pound

  • USD..GBP - Import range of currencies

  • BTC|ETH|LTC - Import specific cryptocurrencies (crypto services only)

For cryptocurrency services, only currencies marked as "Crypto Currency" will be imported, regardless of the filter.

Authentication​

For some services user may need to specify Authentication information - user and/or Password/Key:

image-20250121-211955.png

Services requiring authentication:

  • Open Exchange Rates - API key in PassKey field

  • CoinMarketCap - API key in PassKey field (required)

  • CryptoCompare - API key in PassKey field (optional)

Cryptocurrency-Specific Settings​

When configuring cryptocurrency services, additional fields are available:

Base Fiat Currency​

Specifies the fiat currency for crypto conversion (e.g., EUR, USD, GBP).

Example: If Base Fiat Currency = EUR, Bitcoin rate will be imported as "1 BTC = X EUR"

Crypto Asset Mapping (CoinGecko only)​

CoinGecko requires manual mapping between Business Central currency codes and CoinGecko asset IDs:

  1. Click "Crypto Asset Mapping" action

  2. Create new mapping entries

  3. Use the built-in lookup to find correct asset IDs

  4. Enable the mappings

Quick Access: The "Crypto Asset Mapping" action appears in the ribbon when a crypto service is selected.

Service-Specific Notes​

Traditional Fiat Services​

| Service

|

Authentication

|

Notes

| | --- | --- | --- | |

ECB

|

None

|

Free, daily rates

| |

Riksbank

|

None

|

Free, daily rates

| |

Bank of England

|

None

|

Free, daily rates

| |

Danmarks Nationalbank

|

None

|

Free, daily rates

| |

Open Exchange Rates

|

API Key

|

Free tier available

|

Cryptocurrency Services πŸ†•β€‹

| Service

|

Authentication

|

Mapping Required

|

Coins Supported

| | --- | --- | --- | --- | |

CoinGecko

|

None

|

Yes (manual)

|

19,000+

| |

CoinMarketCap

|

API Key (required)

|

No (automatic)

|

9,000+

| |

CryptoCompare

|

API Key (optional)

|

No (automatic)

|

6,000+

|

tip

CoinMarketCap and CryptoCompare automatically use your Business Central currency codes (BTC, ETH, etc.), requiring no manual mapping. CoinGecko requires manual mapping but includes a convenient lookup feature.

Enabling Multiple Services​

You can enable multiple exchange rate services simultaneously:

  1. Different services for different currencies

    • ECB for European currencies

    • CoinGecko for cryptocurrencies

    • Open Exchange Rates for global currencies

  2. Redundancy and backup

    • Primary and secondary services

    • Automatic fallback if one service fails

  3. Comparison and validation

    • Compare rates from multiple sources

    • Identify discrepancies

Testing Your Configuration​

Preview Rates​

Before enabling automatic import:

  1. Open the service card

  2. Click "Preview" action

  3. Review the fetched exchange rates

  4. Verify all expected currencies are present

  5. Check rate values are reasonable

    image-20251223-161505.png

Test Import​

Perform a manual test import:

  1. Go to Currencies page

  2. Click "Update Exchange Rates"

  3. Select your configured service

  4. Verify rates are imported correctly