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sourceDocument: Xanadu ServiceNow AI Platform Administration
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/xanadu/platform-administration

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ft:locale :

    - en-US

ft:publication_title :

    - Xanadu ServiceNow AI Platform Administration

ft:clusterId :

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---

# Understanding how FX Currency field conversions work

# Understanding how FX Currency field conversions work {#ariaid-title1}

* Release version: Xanadu
* 
* Updated August 1, 2024
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

You can use existing system currency
rates or define a
custom conversion rate table for use in FX Currency processing.

A currency conversion rate represents the conversion factor for exchanging one currency for
another. The conversion rate is used when converting a currency value, expressed in one currency,
to another currency. Conversions can occur for storage (for example, conversion to a reference
currency) or for display (for example, conversion to a session currency).

## When conversions occur {#fx-currency-conversions__section_a41_w1r_xjb}

FX Currency fields expose the values inside the Currency Instance \[fx_currency2_instance\]
record as dot walkable fields. You can access to all data held in an FX Currency field without
any transformations. Conversions can happen in these situations:

1. Calculation of a reference value, calculated when you enter a currency value, whether on insert or update. The reference currency value is saved as well as the currency value as entered. Once this calculation takes place, the reference value is not recalculated.
2. Calculation of the session display value returned from getDisplayValue(), which performs conversions to the required currency.

   The conversion rate is based on the
   settings of the Conversion Rate Table and Conversion Date Source fields in System LocalizationFX Currency Configuration.  
   Note:  
   To learn more about these settings, see [Specify the rate table and date source for currency conversions](https://servicenow-prod.fluidtopics.net/1J92kdSgO0jZ03qp887ERg "Identify the rate table and data source to use for currency conversions for the designated FX Currency field.").
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## Conversion rates {#fx-currency-conversions__section_snq_z1r_xjb}

FX Currency conversion rates are stored in the following ways:

* System rate \[fx_system_rate\] table: Contains system conversion rates. Each record contains the conversion rate from the Euro to a given currency. The rates are downloaded daily from the ECB website by a scheduled job called Retrieve System Rates. To learn more, see [Schedule the rate update job](https://servicenow-prod.fluidtopics.net/pKDEmLQm~duRih_AOgc0IA "Schedule the ECB Exchange Rate Load to perform a nightly download of currency-conversion tables from the European Central Bank.").
* Custom rate table: Contains custom currency conversion rates, and custom rate tables extend the Currency Conversion Rate \[fx_conversion_rate\] table. To learn more about creating custom rate tables, see [Add conversion rates using a custom rate table](https://servicenow-prod.fluidtopics.net/B8cYf45ov0FsuiCXko5ddg "You can create a custom rate table to ensure repeatable and consistent calculations. In a custom rate table, you control the conversion rates and the frequency of rate conversions. If you don't define custom rate tables, FX Currency fields use the System Conversion Currency Rate [fx_system_rate] table, which updates rates daily from the ECB (European Central Bank) website.").
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