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For the rule to set the current currency rate, you must enable the rule and edit the Currency Last Updated field in at least one record. Once the rule runs for the first time, an Update Fields action sets the Currency Last Updated field to the current time and date so that the rule is triggered once daily.
convertCurrency Formula and Fixer.io API
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Fixer.io
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Fixer.io Free License Limitations
By default, the system uses a free Fixer.io API key that has the following limitations:
- 1000 100 requests per month
- Only EUR can be used as a base currency
This means that, by default, the system can only update the Euro (€) record in the Currencies table. If you use a free Fixer.io API key and try to run the convertCurrency formula on other records, the system returns an error. If you need to update other currencies or use this API more frequently, purchase a new key and enter it in However, before you can use this, you must download and enter a free Fixer.io access key in the Fixer.io Service Access Key global variable. You can easily access a free API key by visiting the fixer.io website.
Use Case
In certain situations, you might have contracts with companies that use currencies different from your own. For example, if you work for an American company using the American dollar, you might have a contract with a European company that uses the Euro. In this case, the contract might be established using the Euro, but for internal purposes you want to know the exchange rate to the American dollar. With the help of the Currencies table, you can calculate this exchange rate from within the contract.
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