We discuss the growing relevance of FX in an IT setting and what tech professionals need to know about building systems that can accommodate multiple currencies.
For companies, managing FX risk in a volatile marketplace is truly a team effort—one that requires effective collaboration across all levels of the organization. We analyzed the market and looked at key FX considerations and best practices across different teams and departments - from senior management to the many specialists working beyond the C-Suite.
As with the other roles examined in this series, the integrity of multi-currency accounting is being tested by globalization and economic instability. This installment in our blog series examines the challenges of determining functional currency rates and how corporate accountants can focus on centralization and clarity to strengthen their efforts.
Cash flow analysts deal with more variables than they ever have before – and, more often than not, do so with antiquated methods. In the following article, we will focus on discussing how a few small changes – namely around the automation of FX rate data and knowledge of local operations – can make a major difference for corporate treasury departments.
Already stretched to their limits in the face of multi-currency volatility, corporate treasury specialists will see little reprieve ahead as macroeconomic uncertainty continues. Having recently provided guidance on general FX best practices for corporate treasurers, this installment focuses on how specialists can enhance their FX risk management efforts in the months ahead.
The web provides plenty of ways to get free exchange rates. There also several ways to get an exchange rate API for free. Why would you need one? Currency conversion for reporting purposes, financial reconciliation, pricing, as well as APP development; these are some of the most common use cases that require a user to automate the exchange rate input.
The OANDA Exchange Rates API (hereafter, the API) is a RESTful API, which provides access to OANDA’s daily exchange rate data. The API is accessed via HTTP, the protocol used by web browsers (and not FTP, which is used to provide access to files).