IATA Rate of Exchange (IROE)

The IATA Rate of Exchange (IROE) is a daily exchange rate published by the International Air Transport Association (IATA). It serves as a standard rate for airlines and travel agencies to convert fares and other charges into local currencies for billing purposes. 

IROE is essential for ensuring consistency and accuracy in pricing international flights and services. Rate updates are based on the average exchange rates of the five banking days ending on the 10th of each month.

IROE data can be automatically uploaded into airline and travel agency systems, streamlining the process of fare calculation. By ensuring that all parties in the interline ticketing process use the same exchange rates, IROE reduces the chances of ticket rejections due to incorrect fare calculations. 

The option to receive IROE data files automatically via FTP (File Transfer Protocol) simplifies the integration process.