Most countries do not fix their currency rates at a particular value – their currency fluctuates in value depending on the market. But some countries choose to peg their currency so it is fixed against the currency of another country, often the US Dollar. Occasionally...
There’s been a lot of analysis of 2020, the strangest of years. We thought it might be useful to leave out the pandemic (plenty has been said elsewhere) and summarise 2020 for FXLoader. New Central Bank Sources Official central bank or government sources of FX rates are...
Every number has an “inverse” which is calculated by dividing 1 by that number. For example, the inverse of 5 is 1/5 (or 0.2) Consider a set of numbers and their inverses: Number ...
What is a Cross Rate? Let’s assume USD is your main currency, and you get FX rates for USD with other currencies, e.g. USD>EUR, USD>CAD, USD>AUD Cross Rates are defined as FX rates which don’t include USD, e.g. EUR>CAD, AUD>EUR, CAD>AUD How are Cross Rates obtained? If your rates...
As you are probably aware, the Collaborate20 conference in Las Vegas has been cancelled, along with every other in-person conference at this time. The good news is that it has been replaced by the OATUG Forum Online from April 20 to May 1, 2020. The planned...
Many companies choose OANDA as the source for FX rates as they are a reliable, well-trusted rates provider. They publish Market Rates for every tradeable currency. There is a large amount of information available on OANDA’S website: https://www1.oanda.com/fx-for-business/historical-rates. Therefore, if you are checking rates, be sure...
When loading FX rates into Oracle it is important to consider the date that you will be loading the rates into. This may be influenced by where in the world users are based; and also, by the time that the rates are published by your...
It is important to carefully consider which currency exchange rates you actually need when choosing which ones to load into your ERP. Whilst loading more FX rates than you require may appear to be harmless, it can cause unexpected problems. Why limit the number of rates...
FXLoader FXLoader is a cloud application that integrates currency rates, from leading sources, into Oracle ERP Cloud (Fusion) and other ERP applications. It is currently the top-ranked app on the Oracle Cloud Marketplace. Oracle PaaS Oracle Platform as a Service (PaaS) provides Oracle technology components on Oracle Cloud. FXLoader on...
Many companies standardise on a certain number of decimal places when they use currency rates. However, this can be dangerous for low value currencies, creating very inaccurate rates or even rates of zero. But what’s the difference between decimal places and significant figures? When rounding to a...