# Exchange rates, margins and fixed rates

> For admins: see the daily rates for every currency, add a margin to protect against currency swings, or fix the rate for a currency.

Admins manage exchange rates in [Settings → Currencies & rates](https://app.quoterium.com/settings/currencies). The page shows your base currency, where the rates come from, and a table of every currency.

## Where the rates come from

Quoterium uses the European Central Bank's daily reference rates, converted so that they work from your base currency, whatever it is. The date of the latest rates is shown at the top. Rates are published on working days, so at weekends you see Friday's rate.

## The currency table

| Column | Meaning |
| --- | --- |
| Live rate | Today's daily rate: 1 unit of your base currency in this currency, with its date. |
| Margin % | A buffer added on top of the live rate. |
| Fixed rate | A rate you set, used instead of the live rate. |
| Effective rate | The rate new quotes use, labelled live, live + margin or fixed. |
| Enabled | Whether you work with this currency. |

Use **Filter** to find a currency by code or name, and **Enabled only** to hide the rest.

## Add a margin

A margin protects you if the exchange rate moves between quoting and being paid. With a 2% margin, a live rate of 1.20 becomes 1.224, so the customer's prices are 2% higher.

1. Click **Edit** on the currency's row.
2. Enter the **Margin %**.
3. Click **Save changes**. The effective rate updates.

## Fix a rate

If you agree a rate with a customer, or price from your own rate, enter it as the **Fixed rate** in the same way. A fixed rate replaces the live rate and the margin entirely until you clear it. Leave the box empty to go back to the live rate.

## When changes take effect

Margins and fixed rates apply whenever a quote is priced: when it is created in that currency, when its currency is changed, and when its rate is refreshed. Quotes already priced keep their stored rate until someone refreshes it. See [Change a quote's currency](https://quoterium.com/help/currencies-and-rates/change-a-quotes-currency).

## See also

- [Quoting in other currencies](https://quoterium.com/help/currencies-and-rates/multi-currency-quotes)
- [Rounding converted prices](https://quoterium.com/help/currencies-and-rates/rounding-converted-prices)

Source: https://quoterium.com/help/currencies-and-rates/exchange-rates-and-margins