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# Currency Rate Update

The currency rate update provides a base for building exchange rate providers and bundles for the European Central Bank.

The currency rate update feature serves as the foundation for developing exchange rate providers and bundles within the European Central Bank module in Odoo 17. This functionality facilitates the seamless integration of up-to-date currency exchange rates, crucial for financial transactions and reporting within the system

#### Key Features

- Update currency rate in a click
- Update currency rate automatically

##### Update currency rate in a click.

We can update the currency rate by clicking the Update rate server action.

##### Update currency rate automatically

The currency rate is also automatically update based on the scheduled action.

##### For automatic update of the currency rate we need to enable the field from the settings.

Go to > Invoicing > Configuration > Settings > Check the field Automatic Currency Rates (OCA) for automatically updating the rates of the currency in daily basis.

##### Currency Rates Providers

Create currency rate providers from Accounting tab of Invoice module.

##### Currency Rates Providers

We can add necessary fields like Source Service, Currency etc.Also, we can set the days for automatic updates of the currency rate.

##### Update Rates Wizard

By clicking the update rates wizard from the action of the currency rate provider we can update the rates manually.

##### Update Rates Wizard

##### Currency Rate

We can see the generated currency rate within the date chosen

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