Exchange rates

Since freight rates on the vast majority of ocean trade lanes are quoted in USD, Xeneta uses it as the main currency to display the market rates in our platform.

For select specific cases where rates are quoted in other currencies, we use Open Exchange Rates to automatically convert them to USD to ensure better consistency and comparability.

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We do not update exchange rates historically, so any benchmark rates for a given date are calculated using the exchange rate for that specific date only. They remain the same going forward, regardless of any future exchange rate changes.

Exchange rates and benchmarks

When viewing rate benchmarks in Xeneta for a trade lane that is primarily quoted in a currency other than USD, you may notice small daily fluctuations on the graph which your own rates can also follow quite closely.

These small drops and spikes are simply a reflection of exchange rate fluctuations, which affect both your own rates and Xeneta's benchmarked market rates.