Currency reference rates

The currency reference rates define the reporting (base) currency against other currencies on a specific date. Financial institutions or central banks typically set them daily.

To add a new set of reference rates, follow the steps outlined below.

1. Create a file that includes the base currency and reference rates for one or more currencies.

2. Upload the created file to Tuum through the BackOffice.

3. Confirm the uploaded reference rates. You can skip this optional step if your organisation does not require additional confirmation.

To ensure that transactions and events in other currencies get converted into the reporting currency during the report creation, you must set the daily routine for currency reference rate upload.