> ## Documentation Index
> Fetch the complete documentation index at: https://docs.corrily.com/llms.txt
> Use this file to discover all available pages before exploring further.

# FX Rates

> Setting and updating FX rates in Corrily.

If you are billing users in multiple currencies, FX rates are critical since they can affect the revenue collected. Let's say
your base currency is `USD` and you display and charge users in Europe in `Euro`. With Corrily, you can either use
`Fixed FX rates` or `Floating FX rates` to arrive at the final display price. When using `Floating FX rates`, Corrily
also let's you decide the frequency at which you want to update the FX rates. You can manage your FX rates and monitor
FX rate movements in the `Prices` section under `Product Catalog`.

To give an **illustrative example**, let's say the price of a product is **100 USD** (your base currency) and you were simply
doing currency conversion to arrive at the corresponding price in Euro(without doing any purchasing power parity adjustments).
If you fixed your `USD-EUR` currency pair FX rate (at **0.87** on Jan 1, 2022), you would have fixed your price at 87 Euros in Europe.
On Oct 31, 2022, that would have meant you recognized **86.5 USD** in revenue for a new purchase of the product.
That's a 12.5% hit on your revenue. Corrily helps you monitor and adjust your prices in local countries based on FX movements.

<img src="https://mintcdn.com/corrily/XkFh8wuvLduVZNrE/img/FX%20Movement.png?fit=max&auto=format&n=XkFh8wuvLduVZNrE&q=85&s=2e982f5f8b4e57af50b56bc853fd9b60" width="2000" data-path="img/FX Movement.png" />