1. How Often Are Exchange Rates Updated?
Exchange rates are fetched weekly on Sundays at midnight UTC. The system runs an automated background job that pulls rates for all supported currencies (against USD) and saves them to the database.
2. Where Do Exchange Rates Come From?
Rates are pulled from the Alpha Vantage API, a third-party financial data provider. The system queries the latest exchange rate for each supported currency paired against USD.
3. Where Can Company Admins View Current Exchange Rates?
Company Admins can view exchange rates at:
Settings → Company → Exchange Rates
This page shows a table of all available currencies with:
The current system rate
Any company override (a custom rate set by the admin)
A badge indicating whether the displayed rate is "System" or "Override"
The last updated date (e.g., "Last updated: May 26, 2026")
A conversion display (e.g., "USD $1.00 = X in foreign currency")
4. How Can Company Admins Set Custom Exchange Rates?
There are two places to set custom exchange rates:
A) Company-Level Overrides (Settings → Application → Exchange Rates)
On the exchange rates settings page described above, admins can:
Click on any currency row to edit the rate with a custom override value
Save the override — it persists as a company-level setting
Delete an override to revert back to the system rate
These company-level overrides apply as the default wherever exchange rates are used for that company
B) Cycle-Specific Overrides (Review Setup → Currency)
When setting up a comp cycle, admins can customize exchange rates specifically for that cycle. Navigate to:
Reviews → [Cycle] → Setup → Overview → Currency section
Here admins can:
Select a default currency for the review cycle
Set an exchange rate effective date — choosing a date fetches historical rates as of that date. There are two reset modes:
"Reset all" — resets every currency rate to the value as of the selected date
"Reset unmodified only" — only resets rates that haven't been manually customized, preserving any hand-edited rates
Edit individual currency rates inline — only currencies used by proposals in the cycle are shown, and each rate can be adjusted to up to 8 decimal places
The system tracks whether each rate was manually modified, so admins can see which rates have been customized vs. which are still at the system default
Important: Cycle-level rates are independent of company-level overrides. They are a snapshot in time and can be customized per cycle without affecting company-wide settings.