# Exchange rates

Invoice Hub converts every invoice to rupees using the exchange rates you keep under **Masters → Exchange rates**.

## How a rate is chosen

Rates aren't published every day. Weekends, holidays and CBIC's notification cycle leave gaps. So an invoice uses **the most recent rate on or before the invoice date**, never a future one. On the invoice form the rate is filled in automatically, and the **↻** button looks it up again.

> **Note:** If no rate exists on or before the invoice date, a rate of 1 is used and the invoice shows a warning that the INR figure is not meaningful. Add the rate, then edit and re-save the invoice.

## Adding one rate

Click **Add**, choose the currency pair, date, rate and source.

## Bulk import

**Rates → Bulk import** takes data pasted from Excel, RBI or CBIC, one rate per line:

```
USD,2026-04-01,83.12
USD,2026-04-15,83.40
EUR,2026-04-01,90.05
```

1. Choose a **default currency** (used when a line has no currency), the **convert to** currency (usually INR) and the **source** (RBI, CBIC, Bank, Manual or Import).
2. Paste the data and click **Preview** to check it.
3. Click **Import**.

Which rate should you use? See [Which exchange rate should you use on an export invoice?](/blog/exchange-rate-for-export-invoices)