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Automatic Currency Rate Fetch from RBI or SBI on daily basis odoo16 (Enterprise)

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accountingcurrencyratesRBIOdoo16
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Tenth Planet

Environment:


- Odoo Version: 16.0 (Enterprise)


- Module: Accounting


Business Requirement:


As we follow Indian Accounting, Require to fetch the currency rate as per Reserve Bank Of India(RBI) or State Bank Of India against other currencies such as USD, Euro, GBP etc., on daily basis for customer invoicing an customer receipts transactions


Use Case:


Currently odoo fetches the currency rates automatically from European Central Bank or other international Banks. It doesn'show any domestic Banks such as RBI or SBI. We require to fetch the Currency rates as per RBI/SBI


Questions:


1. Is there any existing functionality in Odoo 16 to fetch the currency rates as per RBI/SBI?


2. If not, what would be the recommended approach to implement this?


Any guidance on implementing this feature would be greatly appreciated. Technical implementation details or pointers to similar solutions would be helpful.

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Rakesh Patel (patr)
Best Answer

In Odoo 16 (Enterprise), the default functionality fetches currency exchange rates from providers like the European Central Bank. However, it does not directly support fetching exchange rates from Indian domestic banks such as the Reserve Bank of India (RBI) or State Bank of India (SBI).


Additionally 

RBI: RBI may publish daily currency rates on their website or provide them via API or downloadable files (CSV/Excel).

SBI: SBI might offer similar resources, though less commonly.

Research their developer documentation or reach out to the respective institutions for API access.

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