Exchange Rates

Exchange rates are used to convert purchase order costs to your warehouse currency when receiving goods. Rates are global and shared across all tenants.

Viewing rates

Go to Settings -> Exchange Rates to see:

• All currency pairs with their latest rate
• The source of each rate (manual or openexchangerates)
• The effective date - when the rate was last updated
• A stale indicator for rates older than 7 days

Automatic updates

Exchange rates are updated automatically on a schedule. MPH WMS fetches the latest rates from the Open Exchange Rates API and stores them with the current date.

Rates older than 7 days are flagged as stale in the UI so you can see if something has gone wrong with the sync.

Manual entry

You can also add or override a rate manually:

1. Click Add Rate
2. Select the from currency (e.g., EUR)
3. Select the to currency (e.g., SEK)
4. Enter the rate
5. Click Save

Manual rates override API-fetched rates for the same currency pair and date. This is useful for agreed fixed rates with suppliers (e.g., contractual rates).

How conversion works

All exchange rates are stored relative to USD. To convert between two non-USD currencies, a cross-rate is calculated:

EUR -> SEK = (amount / EUR/USD) * SEK/USD

This means you only need one rate per currency (vs. USD), not a rate for every possible pair.

When rates are used

Exchange rates are applied at one point in the flow:

• Goods receipt - when the PO currency differs from the warehouse currency

The rate used at receipt time is stored on the goods receipt line for audit purposes. Changing rates later does not retroactively affect existing receipts.

Best practices

• Review stale rates regularly - rates older than 7 days may lead to inaccurate valuations
• Use manual entry for agreed fixed rates with suppliers (e.g., contractual rates)