Connect FX rates (ECB) to Rig

    This source loads daily reference exchange rates, so you can convert revenue, spend and balances held in other currencies to US dollars with one consistent table. It reads the European Central Bank's published rates through the public Frankfurter API, which needs no account or key.

    Before you start

    • Nothing to set up on the vendor side. There is no account, key or permission to create.
    • Decide how far back you want rates. The first load starts at the History start date and can reach back to 1999-01-04.

    Connect it in Rig

    Adding a source needs a workspace owner, or a role with the Manage connections permission, on a workspace where you manage your own connections. If the Connectors tab says “Data ingestion for this workspace is managed by Rig”, ask an owner or Rig support to add the source.

    1. In Rig, open Connections, choose the Connectors tab and go to Sources & actions.
    2. Search for FX rates (ECB), open the card and click Connect.
    3. History start date: A date in YYYY-MM-DD form, no earlier than 1999-01-04. Leave it as it is to start at 2020-01-01.
    4. Click Continue. Rig checks the credentials and lists the streams it can reach, so choose the ones you want and click Connect.
    5. The source then syncs on its schedule, which is nightly unless you change it. To load data straight away, click Sync on its row; Test pulls a small sample first if you want to check the connection.

    What Rig pulls in

    FX rates (ECB) lands in its own fx_rates schema in your warehouse:

    • Daily rates: one row per ECB business day per currency, with the date, base, currency, rate and source. The rate column holds units of the currency per 1 US dollar.

    Rates come from three sources, shown in the source column: ECB reference rates for about 30 currencies, fixed US dollar pegs for AED and SAR, and USD itself at 1.0.

    Good to know

    • To convert a local amount to US dollars, divide it by rate.
    • The ECB publishes on business days only, so weekends and ECB holidays have no row. Join each transaction to the latest rate on or before its date.
    • A missing rate means the amount cannot be converted. Treat it as an error and avoid defaulting to 1.0.
    • A currency the ECB stops publishing keeps its last row for good, so put a limit of a few days on how old a joined rate may be.
    • Each sync re-reads a few days before the last stored date, because the ECB sometimes corrects a rate. Changing the History start date later takes effect after a Full resync.
    • To disconnect FX rates (ECB), click the bin icon on the source's row under Sources & actions. Only whoever connected the source or a workspace owner can do this, and data already synced stays in the warehouse.

    What people use this for

    • Convert multi-currency revenue to US dollars
    • Measure the impact of currency movements
    • Normalise spend across entities and bank accounts

    More ideas for using FX rates (ECB)

    FX rates (ECB) documentation

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