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Fayeyin
Level 1
posted
Monday
last updated ‎May 04, 2026 2:38 PM

Export historical FX rates pulled from IHS Markit

Hi,

My understanding is that QuickBooks Online pulls its daily FX rates from IHS Markit. Before using the built‑in FX functionality, I’d like to perform an analysis comparing IHS Markit rates against other audit‑acceptable sources (such as the Bank of Canada or Oanda) to assess how closely they align and whether IHS Markit would also be considered audit‑acceptable.

 

I haven’t posted any foreign currency transactions in QuickBooks yet, as I’d prefer to complete this analysis first before relying on the quickbooks FX rates (IHS markit rates). In this context, is there a way to generate historical daily IHS Markit FX rates directly from QuickBooks Online?

 

If the analysis shows that the IHS Markit rates used by QuickBooks are reasonable compared to Bank of Canada or Oanda rates, I would prefer to use QuickBooks’ default FX rates rather than manually updating or maintaining my own FX rates during bookkeeping. Thanks!

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1 Comment 1
MoiraskyeT
QuickBooks Team
QuickBooks Team
Monday

Export historical FX rates pulled from IHS Markit

That’s right. Once Multicurrency is enabled, QuickBooks pulls daily exchange rates from IHS Markit based on your transaction date. You can rely on this automated process, as QuickBooks applies the specific exchange rate associated with each transaction date.

 

It's great to see you conducting an analysis for accurate exchange rates. QBO doesn't have a feature to generate historical IHS Markit FX rates.

 

Please note that QuickBooks relies on IHS Markit as the primary source for automated foreign exchange rates. If you find it necessary to manually override a rate or create currency adjustments, you can freely do so within QuickBooks to ensure accuracy. That said, it’s always best to work with an accountant to verify your reporting.

 

If you have any questions about home currency adjustments in the future, feel free to reference this article: Frequently asked questions about home currency adjustments.

 

Let us know if you have further questions. We're here to help you anytime.

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