I know that Magento has the option to convert currency and I can set the cron to update the conversion rate. But what i want to know is, where does Magento get the conversion rate from? What web service is Magento using to update the currency conversion rate?
I need to know because I want to let my sellers know from where I am getting the conversion rate from.
Best Answer
Magento uses webservicex.net to pull the currency conversion rates. You can check that by visiting
System->Configuration -> Currency setup -> webservicex.
then, take a look at
Mage_Directory_Model_Currency_Import_Webservicex
and
Mage_Directory_Model_Observer
Hope this helps.