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Apparently the updating of currency rates is only available in Enterprise. Given that my business is multi-currency, I'm going to need to have the rates in Odoo. I can see the table "res_currency_rate" which would appear to be for this purpose. My question is; what are the semantics of the columns in this table?

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You have to update currency rate manually. The table describe currency rate on different time.

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My question is; what are the semantics of the columns in this table?

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You can follow this path - Accounting - Configuration - Multi Currencies - Currencies.  From here, you can activate the currency you want to use and maintain its rates.


KM

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You can use the Currency Rate Update module, get it from the App menu on your community edition or download it here https://www.odoo.com/apps/modules/9.0/currency_rate_update/

There are some minor bugs on the modules, some of them might not apply to you. 

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