Scheduled update of exchange rates

Due to the Riksbank (Sweden's central bank) updating their API from SOAP to REST, a new limit of a maximum of 5 requests per minute from the same IP address has been introduced. This means that those of you who update exchange rates via the scheduler in Monitor ERP are affected by this limitation if you:

  1. Update more than 5 currencies at the same time, in the same company, either via the scheduler or manually via the “Update now” button.

  2. Have several companies on the same server (same IP address) which update more than 5 currencies in total.

Please note that the limit applies per IP address. The limit can therefore be reached in each company, despite not updating more than 5 currencies at the same time if you update more than 5 currencies for all companies. If Company 1 updates 3 currencies and Company 2 updates 3 currencies, the limit will be reached as the companies have the same IP address.

Read more about the Riksbank’s changes on their website.

Features to facilitate the updating of exchange rates

The following features help with the updating of exchange rates with regard to the request limit:

Recommendations when updating several exchange rates

  • One company (one server)

    If you only have one company on the server and update more than 5 currencies, no action needs to be taken. This is because the scheduler will automatically divide the currencies into groups of 5 and update one group at a time until all values are updated.

    It is possible to enter an API key via Riksbank API and increase the limit to 200 requests/minute, but it is not necessary to do so.

  • Several companies on the same server (same IP address)

    If you have multiple companies on the same server and are using scheduled updates, it is recommended to use an API key in order to simplify the updating process. The same API key can be entered for multiple companies, it is not unique to a company.

    If you don't enter an API key, it is recommended that the time for the scheduler is set with an interval of a few minutes between each company, so that each company updates its currencies at a different time. E.g. If you have 5 companies which each update 10 currencies (please note that the update is in two groups), the below setting would work without any issues:

    Company 1 23:00
    Company 2 23:05
    Company 3 23:10
    Company 4 23:15
    Company 5 23:20

    In this case, there is a decent time margin between the companies’ currency update.

    Please note that the smallest margin between the companies is 2 minutes if up to 10 currencies will be updated for each company as each group of currencies is run once every minute.

    When choosing a time for the scheduled update, you should ensure that no currency update is scheduled for after the 24 hour cut off as this will result in the wrong exchange rate being loaded (the exchange that should be loaded is that of the following day).

    If you have multiple companies on the same server (IP address) and are updating so many currencies that even the 200 requests/minute is not enough, it is recommended to combine the above two methods. That being that you use an API key as well as setting the scheduling time for the companies.