We have implemented the automatic currency conversion in Syncee so you do not have to worry about it! This way it does not matter if your suppliers or retailers are from the other part of the world using another currency.
One of the most common questions is how exactly the currencies are converted by Syncee when managing the products. Let us try and explain it in depth for you by answering the related questions below.
How many times is the conversion rate checked by Syncee?
We check the conversion rates more times a day to make sure that it is kept up-to-date during the day.
Where is data coming from?
Exchange rate data is collected by Syncee from over 15 reliable data sources. Sources include banks and financial data providers every minute.
Which type of currency data is supported?
All exchange rate data delivered by Syncee is midpoint data. Midpoint rates are determined by calculating the average median rate of Bid and Ask at a certain time.
Which currencies are supported?
Syncee currently supports converting 168 currencies.
The following currencies are supported right now:
Which type of historical rates does Syncee use?
Syncee delivers EOD / End of Day historical exchange rates, which become available at 00:05am GMT for the previous day and are time stamped at one second before midnight.