How exchange rates work

Understand how Logam converts foreign currency amounts to your home currency

1. Step 1: When you add an expense in a foreign currency, Logam automatically fetches the exchange rate for that expense's date from the Frankfurter API, which publishes European Central Bank (ECB) rates.
2. Step 2: Rates are published on business days only. If your expense falls on a weekend or public holiday, Logam uses the most recent prior business day's rate.
3. Step 3: The converted home-currency amount is shown on each expense and summed up in the breakdown. Logam supports active fiat currencies available from Frankfurter, including AED, ARS, CLP, COP, GEL, RON, RUB, UAH, VND, and many more.
4. Step 4: If Logam applied a provisional rate at the time of an expense, use the 'Refresh rates' button above the expense list to update to the actual rate once it is published.