You can now keep an accurate history of your exchange rates over time.
Forecast has moved to a date-effective financial model, where each exchange rate for a project currency is tied to the specific date range it was in effect for.
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What's Changing
Before this change, Forecast held a single exchange rate per project currency. Updating that rate changed your historical figures as well as your current ones, so a single rate update could quietly reshape past invoices, revenue, and margins.
To hold on to the numbers that were true at the time, finance teams often ended up keeping their own spreadsheets on the side.
That's no longer necessary. Past periods now stay locked to the rate that applied when the work happened, and any new rate you add only affects the dates from that point forward.
What This Gives You
Your rate history is now permanent and reliable. Every project currency keeps a full record of its rates, and no rate in that history can be edited or removed on its own, so you always have a clear audit trail.
Reports stay accurate for any past date. Because Forecast applies the exact rate that was in effect at the time, your past margins and revenue stay correct even after you add newer rates.
You can stop reconciling by hand. With your history preserved automatically, there's no more data drift and no need to rebuild your numbers in a separate spreadsheet.
Managing Your Rate History
Each currency now has a Currency History view that shows a timeline of every rate it has had.
To open it, click the ellipsis next to a currency and select View/Add Rate.
When you add a new rate, you pick the date it takes effect. You can choose any date from the day after your most recent rate up to today.
If a currency still has only its original rate, any past date is available. Forecast then automatically end-dates the previous rate, so your timeline stays continuous with no gaps. Setting rates for future dates isn't supported.
Rates are tagged as either Current or Past, so it's always clear which one is live. The oldest rate in the history is labelled Initial. If a currency has only one rate, its active period runs from Initial to Onwards.
Note: Dates are always shown as DD MMM YYYY (for example, 22 Feb 2026), so there's no confusion between regional date formats. The Created at timestamp adjusts automatically to your local timezone and shows the timezone abbreviation. Your company's current date and time is shown at the top of both the currency list and the Currency History view, in your company's timezone.
If you enter a rate that matches the current rate, Forecast warns you but still lets you save it. If a rate already starts today, Add New Rate is unavailable until tomorrow. Rates you add are held in the view until you click Save, and closing before saving asks you whether to keep or discard them.
How Your History Is Protected
To keep the audit trail dependable, a rate can't be changed once it's recorded. The whole history is read-only, so no rate can be edited or deleted on its own, including the first rate labelled Initial.
To change the rate that applies from today onwards, you add a new one.
A project currency that's being used by a rate card is locked and can't be deleted. In the currency list it shows a lock icon, and hovering over the icon explains why.
Every currency has a three-dot menu, but the Delete option only appears for currencies that aren't used by a rate card. Deleting a currency asks you to type DELETE to confirm, and permanently removes all of that currency's rate history along with it. Individual rates inside a currency's history can't be deleted.
All rates are calculated against your company currency, which an Admin sets in Company Details.
Who This Is For
This matters for anyone who relies on Forecast's financials, and it's especially useful for Finance Directors and Project Managers.
Exchange rates are managed by Admins, and because the model applies to all financial fields across the application, the accuracy benefits reach everyone.
Where You'll See It
Admin → Finance → Currencies: View and add rates through each currency's history.
Standard and Advanced Reporting, and all financial calculations: The correct historical rate is applied to your revenue and margins.
What You Need to Know
No action is required. Date-effective exchange rates are available automatically with this release. Your existing currencies, exchange rates, rate cards, invoices, and financial data are unchanged.
From here, every new rate you add is captured against its own date range, and your history stays locked exactly as it should be.
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