Why Is Sterling (GBP) Exchange Rate Updating Automatically?

Why is Sterling (GBP) updating automatically?

Sterling (GBP) is configured to use the Market Rate exchange rate method in the Ordway environment.

Other currencies may be configured to use Set Rate, which means their exchange rates are maintained manually in Ordway.

What exchange rate methods does Ordway support?

Ordway supports two exchange rate methods:

• Market Rate — Ordway automatically retrieves exchange rates from Fixer.io on a daily schedule.
• Set Rate — Exchange rates are manually maintained in Ordway.

The exchange rate method is configured separately for each currency.

Where does the Market Rate come from?

For currencies configured to use Market Rate, Ordway retrieves exchange rates from Fixer.io on a daily schedule.

When was the exchange rate configuration established?

The exchange rate configuration was established during the implementation phase.

Does this configuration affect other Sage entities or integrations?

No. Exchange rate settings are specific to the Ordway environment.

These settings are not shared with external systems or other entities, including Sage.

Related Topics

Manage Currencies: https://support.ordwaylabs.com/hc/en-us/articles/360048299031-Manage-Currencies