QuickBooks Online (QBO) obtains and utilizes exchange rates from IHS Markit, Stephanie.
The system automatically updates the exchange rates for foreign currencies every four hours from Wall Street On Demand. It ensures that the most recent exchange rates are used for transactions and financial reporting.
Here's an article that helps you easily record foreign transactions without worrying about exchange rate conversions: Set up and use Multicurrency in QuickBooks Online.
I've added this page if you want to enter custom exchange rates manually: Enter and use your exchange rates in QuickBooks Online. Please know that the information provided in this article also applies to the QuickBooks Online Advanced version.
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