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QME anybody have an idea how to convert currencies when processing data in a custom object/table? do we have to call an external webservice to perform the conversion.
SFDC does not seem to maintain a currency exchange-rate table. i've enabled multi-currencies but it seems that the customer (we) have to maintain the exchange rates.....
any ideas?
The reason you have to maintain your own currency rates is because its normally meaningless to try and represent every currency value in a spot value based on the current FX market. Most companies fix their exchange rates for reporting on a monthly or even annual basis to avoid such issues.
If you really want to do this, then yes, you'd need to sign up to a public currency web service and update your SF exchange rates via Apex (assuming its exposed). You'll also need to switch on Advanced Currency management and hold a history of every exchange rate change, if you want to know for each transaction the prevailing exchange rate for the transaction date.
Note! This will stop roll up summary fields working, check the help as there's significant impact doing this.