Currency Rate API

Manage exchange rates between currencies. Currency rates define the conversion rates between different currencies over time.

Endpoints

Method	Endpoint	Description
GET	/record/v1/currencyRate	List all currency rates
GET	/record/v1/currencyRate/{id}	Get a specific currency rate by ID
POST	/record/v1/currencyRate	Create a new currency rate
PATCH	/record/v1/currencyRate/{id}	Update an existing currency rate
DELETE	/record/v1/currencyRate/{id}	Delete a currency rate

Key Fields

Required Fields

Field	Type	Description	Required
baseCurrency	Object	The base currency for the exchange rate	Yes
transactionCurrency	Object	The transaction currency to convert from/to	Yes
exchangeRate	Number	The exchange rate (e.g., 1.18 means 1 base = 1.18 transaction)	Yes
effectiveDate	Date	Date when this rate becomes effective (YYYY-MM-DD)	Yes

Optional Fields

Field	Type	Description	Required
currentRate	Boolean	Whether this is the current rate for this currency pair	No

Example: Create Currency Rate

Request

POST /record/v1/currencyRate
Content-Type: application/json

{
  "baseCurrency": {
    "id": "1"
  },
  "transactionCurrency": {
    "id": "2"
  },
  "exchangeRate": 1.18,
  "effectiveDate": "2025-12-25",
  "currentRate": true
}

Response

{
  "id": "789",
  "baseCurrency": {
    "id": "1",
    "refName": "USA"
  },
  "transactionCurrency": {
    "id": "2",
    "refName": "Euro"
  },
  "exchangeRate": 1.18,
  "effectiveDate": "2025-12-25",
  "currentRate": true,
  "links": [
    {
      "rel": "self",
      "href": "https://{accountId}.suitetalk.api.netsuite.com/services/rest/record/v1/currencyRate/789"
    }
  ]
}

Example: Update Currency Rate

Request

PATCH /record/v1/currencyRate/789
Content-Type: application/json

{
  "exchangeRate": 1.20,
  "currentRate": true
}

Response

{
  "id": "789",
  "baseCurrency": {
    "id": "1",
    "refName": "USA"
  },
  "transactionCurrency": {
    "id": "2",
    "refName": "Euro"
  },
  "exchangeRate": 1.20,
  "effectiveDate": "2025-12-25",
  "currentRate": true,
  "links": [
    {
      "rel": "self",
      "href": "https://{accountId}.suitetalk.api.netsuite.com/services/rest/record/v1/currencyRate/789"
    }
  ]
}

Query Filters

You can filter currency rates using query parameters:

Filter by Base Currency

GET /record/v1/currencyRate?q=baseCurrency.id IS 1

Filter by Transaction Currency

GET /record/v1/currencyRate?q=transactionCurrency.id IS 2

Filter by Effective Date

GET /record/v1/currencyRate?q=effectiveDate ONORAFTER 2025-01-01

Filter by Current Rate

GET /record/v1/currencyRate?q=currentRate IS true

Filter by Currency Pair

GET /record/v1/currencyRate?q=baseCurrency.id IS 1 AND transactionCurrency.id IS 2

Get Latest Rate for Currency Pair

GET /record/v1/currencyRate?q=baseCurrency.id IS 1 AND transactionCurrency.id IS 2 AND currentRate IS true

Complex Filter Example

GET /record/v1/currencyRate?q=baseCurrency.id IS 1 AND effectiveDate ONORAFTER 2025-01-01&orderby=effectiveDate DESC

Pagination and Sorting

GET /record/v1/currencyRate?limit=100&offset=0&orderby=effectiveDate DESC

Important Notes

1. Exchange Rate Direction: The exchange rate represents how much of the transaction currency equals one unit of the base currency. For example, if USD is base and EUR is transaction, a rate of 0.85 means 1 USD = 0.85 EUR.

2. Effective Date: Currency rates are date-effective. NetSuite uses the rate with the effective date closest to (but not after) the transaction date.

3. Current Rate: The currentRate flag indicates which rate is currently active for a currency pair. Only one rate per currency pair should have this flag set to true at a time.

4. Automatic Updates: When creating a new rate with a more recent effective date, you may want to update the previous rate's currentRate flag to false.

5. Historical Rates: Keep historical rates in the system for accurate reporting and revaluation of past transactions.

6. Base Currency: All rates are relative to your base currency. If you need to convert between two non-base currencies, NetSuite will use both rates to calculate the conversion.

7. Rate Precision: Exchange rates typically use 4-6 decimal places for accuracy. NetSuite supports high precision for exchange rates.

8. Deletion Restrictions: Currency rates that have been used in transactions should not be deleted to maintain historical accuracy.

9. Permissions: Requires "Lists > Currency" permission in NetSuite.

10. Consolidation: In OneWorld accounts with multiple subsidiaries using different currencies, maintaining accurate exchange rates is critical for consolidated reporting.

11. Rate Sources: Many organizations automate currency rate updates by pulling from external sources (central banks, financial services) via scheduled scripts.

12. Revaluation: Currency rates are used in unrealized gain/loss calculations for foreign currency accounts and open transactions.