diff --git a/erpnext/accounts/doctype/currency_exchange_settings/__init__.py b/erpnext/accounts/doctype/currency_exchange_settings/__init__.py
new file mode 100644
index 0000000..e69de29
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings/__init__.py
diff --git a/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.js b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.js
new file mode 100644
index 0000000..6c40f2b
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.js
@@ -0,0 +1,45 @@
+// Copyright (c) 2022, Frappe Technologies Pvt. Ltd. and contributors
+// For license information, please see license.txt
+
+frappe.ui.form.on('Currency Exchange Settings', {
+	service_provider: function(frm) {
+		if (frm.doc.service_provider == "exchangerate.host") {
+			let result = ['result'];
+			let params = {
+				date: '{transaction_date}',
+				from: '{from_currency}',
+				to: '{to_currency}'
+			};
+			add_param(frm, "https://api.exchangerate.host/convert", params, result);
+		} else if (frm.doc.service_provider == "frankfurter.app") {
+			let result = ['rates', '{to_currency}'];
+			let params = {
+				base: '{from_currency}',
+				symbols: '{to_currency}'
+			};
+			add_param(frm, "https://frankfurter.app/{transaction_date}", params, result);
+		}
+	}
+});
+
+
+function add_param(frm, api, params, result) {
+	var row;
+	frm.clear_table("req_params");
+	frm.clear_table("result_key");
+
+	frm.doc.api_endpoint = api;
+
+	$.each(params, function(key, value) {
+		row = frm.add_child("req_params");
+		row.key = key;
+		row.value = value;
+	});
+
+	$.each(result, function(key, value) {
+		row = frm.add_child("result_key");
+		row.key = value;
+	});
+
+	frm.refresh_fields();
+}
diff --git a/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.json b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.json
new file mode 100644
index 0000000..7921fcc
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.json
@@ -0,0 +1,126 @@
+{
+ "actions": [],
+ "creation": "2022-01-10 13:03:26.237081",
+ "doctype": "DocType",
+ "editable_grid": 1,
+ "engine": "InnoDB",
+ "field_order": [
+  "api_details_section",
+  "service_provider",
+  "api_endpoint",
+  "url",
+  "column_break_3",
+  "help",
+  "section_break_2",
+  "req_params",
+  "column_break_4",
+  "result_key"
+ ],
+ "fields": [
+  {
+   "fieldname": "api_details_section",
+   "fieldtype": "Section Break",
+   "label": "API Details"
+  },
+  {
+   "fieldname": "api_endpoint",
+   "fieldtype": "Data",
+   "in_list_view": 1,
+   "label": "API Endpoint",
+   "read_only_depends_on": "eval: doc.service_provider != \"Custom\"",
+   "reqd": 1
+  },
+  {
+   "fieldname": "url",
+   "fieldtype": "Data",
+   "label": "Example URL",
+   "read_only": 1
+  },
+  {
+   "fieldname": "column_break_3",
+   "fieldtype": "Column Break"
+  },
+  {
+   "fieldname": "help",
+   "fieldtype": "HTML",
+   "label": "Help",
+   "options": "<h3>Currency Exchange Settings Help</h3>\n<p>There are 3 variables that could be used within the endpoint, result key and in values of the parameter.</p>\n<p>Exchange rate between {from_currency} and {to_currency} on {transaction_date} is fetched by the API.</p>\n<p>Example: If your endpoint is exchange.com/2021-08-01, then, you will have to input exchange.com/{transaction_date}</p>"
+  },
+  {
+   "fieldname": "section_break_2",
+   "fieldtype": "Section Break",
+   "label": "Request Parameters"
+  },
+  {
+   "fieldname": "req_params",
+   "fieldtype": "Table",
+   "label": "Parameters",
+   "options": "Currency Exchange Settings Details",
+   "read_only_depends_on": "eval: doc.service_provider != \"Custom\"",
+   "reqd": 1
+  },
+  {
+   "fieldname": "column_break_4",
+   "fieldtype": "Column Break"
+  },
+  {
+   "fieldname": "result_key",
+   "fieldtype": "Table",
+   "label": "Result Key",
+   "options": "Currency Exchange Settings Result",
+   "read_only_depends_on": "eval: doc.service_provider != \"Custom\"",
+   "reqd": 1
+  },
+  {
+   "fieldname": "service_provider",
+   "fieldtype": "Select",
+   "label": "Service Provider",
+   "options": "frankfurter.app\nexchangerate.host\nCustom",
+   "reqd": 1
+  }
+ ],
+ "index_web_pages_for_search": 1,
+ "issingle": 1,
+ "links": [],
+ "modified": "2022-01-10 15:51:14.521174",
+ "modified_by": "Administrator",
+ "module": "Accounts",
+ "name": "Currency Exchange Settings",
+ "owner": "Administrator",
+ "permissions": [
+  {
+   "create": 1,
+   "delete": 1,
+   "email": 1,
+   "print": 1,
+   "read": 1,
+   "role": "System Manager",
+   "share": 1,
+   "write": 1
+  },
+  {
+   "create": 1,
+   "delete": 1,
+   "email": 1,
+   "print": 1,
+   "read": 1,
+   "role": "Accounts Manager",
+   "share": 1,
+   "write": 1
+  },
+  {
+   "create": 1,
+   "delete": 1,
+   "email": 1,
+   "print": 1,
+   "read": 1,
+   "role": "Accounts User",
+   "share": 1,
+   "write": 1
+  }
+ ],
+ "sort_field": "modified",
+ "sort_order": "DESC",
+ "states": [],
+ "track_changes": 1
+}
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.py b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.py
new file mode 100644
index 0000000..e16ff3a
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings/currency_exchange_settings.py
@@ -0,0 +1,82 @@
+# Copyright (c) 2022, Frappe Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+import frappe
+import requests
+from frappe import _
+from frappe.model.document import Document
+from frappe.utils import nowdate
+
+
+class CurrencyExchangeSettings(Document):
+	def validate(self):
+		self.set_parameters_and_result()
+		response, value = self.validate_parameters()
+		self.validate_result(response, value)
+
+	def set_parameters_and_result(self):
+		if self.service_provider == 'exchangerate.host':
+			self.set('result_key', [])
+			self.set('req_params', [])
+
+			self.api_endpoint = "https://api.exchangerate.host/convert"
+			self.append('result_key', {'key': 'result'})
+			self.append('req_params', {'key': 'date', 'value': '{transaction_date}'})
+			self.append('req_params', {'key': 'from', 'value': '{from_currency}'})
+			self.append('req_params', {'key': 'to', 'value': '{to_currency}'})
+		elif self.service_provider == 'frankfurter.app':
+			self.set('result_key', [])
+			self.set('req_params', [])
+
+			self.api_endpoint = "https://frankfurter.app/{transaction_date}"
+			self.append('result_key', {'key': 'rates'})
+			self.append('result_key', {'key': '{to_currency}'})
+			self.append('req_params', {'key': 'base', 'value': '{from_currency}'})
+			self.append('req_params', {'key': 'symbols', 'value': '{to_currency}'})
+
+	def validate_parameters(self):
+		if frappe.flags.in_test:
+			return None, None
+
+		params = {}
+		for row in self.req_params:
+			params[row.key] = row.value.format(
+				transaction_date=nowdate(),
+				to_currency='INR',
+				from_currency='USD'
+			)
+
+		api_url = self.api_endpoint.format(
+			transaction_date=nowdate(),
+			to_currency='INR',
+			from_currency='USD'
+		)
+
+		try:
+			response = requests.get(api_url, params=params)
+		except requests.exceptions.RequestException as e:
+			frappe.throw("Error: " + str(e))
+
+		response.raise_for_status()
+		value = response.json()
+
+		return response, value
+
+	def validate_result(self, response, value):
+		if frappe.flags.in_test:
+			return
+
+		try:
+			for key in self.result_key:
+				value = value[str(key.key).format(
+					transaction_date=nowdate(),
+					to_currency='INR',
+					from_currency='USD'
+				)]
+		except Exception:
+			frappe.throw("Invalid result key. Response: " + response.text)
+		if not isinstance(value, (int, float)):
+			frappe.throw(_("Returned exchange rate is neither integer not float."))
+
+		self.url = response.url
+		frappe.msgprint("Exchange rate of USD to INR is " + str(value))
diff --git a/erpnext/accounts/doctype/currency_exchange_settings/test_currency_exchange_settings.py b/erpnext/accounts/doctype/currency_exchange_settings/test_currency_exchange_settings.py
new file mode 100644
index 0000000..2778729
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings/test_currency_exchange_settings.py
@@ -0,0 +1,9 @@
+# Copyright (c) 2021, Wahni Green Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+# import frappe
+import unittest
+
+
+class TestCurrencyExchangeSettings(unittest.TestCase):
+	pass
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_details/__init__.py b/erpnext/accounts/doctype/currency_exchange_settings_details/__init__.py
new file mode 100644
index 0000000..e69de29
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_details/__init__.py
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.json b/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.json
new file mode 100644
index 0000000..3093587
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.json
@@ -0,0 +1,39 @@
+{
+ "actions": [],
+ "creation": "2021-09-02 14:54:49.033512",
+ "doctype": "DocType",
+ "editable_grid": 1,
+ "engine": "InnoDB",
+ "field_order": [
+  "key",
+  "value"
+ ],
+ "fields": [
+  {
+   "fieldname": "key",
+   "fieldtype": "Data",
+   "in_list_view": 1,
+   "label": "Key",
+   "reqd": 1
+  },
+  {
+   "fieldname": "value",
+   "fieldtype": "Data",
+   "in_list_view": 1,
+   "label": "Value",
+   "reqd": 1
+  }
+ ],
+ "index_web_pages_for_search": 1,
+ "istable": 1,
+ "links": [],
+ "modified": "2021-11-03 19:14:55.889037",
+ "modified_by": "Administrator",
+ "module": "Accounts",
+ "name": "Currency Exchange Settings Details",
+ "owner": "Administrator",
+ "permissions": [],
+ "sort_field": "modified",
+ "sort_order": "DESC",
+ "track_changes": 1
+}
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.py b/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.py
new file mode 100644
index 0000000..a6ad763
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_details/currency_exchange_settings_details.py
@@ -0,0 +1,9 @@
+# Copyright (c) 2021, Wahni Green Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+# import frappe
+from frappe.model.document import Document
+
+
+class CurrencyExchangeSettingsDetails(Document):
+	pass
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_result/__init__.py b/erpnext/accounts/doctype/currency_exchange_settings_result/__init__.py
new file mode 100644
index 0000000..e69de29
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_result/__init__.py
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.json b/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.json
new file mode 100644
index 0000000..fff5337
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.json
@@ -0,0 +1,31 @@
+{
+ "actions": [],
+ "creation": "2021-09-03 13:17:22.088259",
+ "doctype": "DocType",
+ "editable_grid": 1,
+ "engine": "InnoDB",
+ "field_order": [
+  "key"
+ ],
+ "fields": [
+  {
+   "fieldname": "key",
+   "fieldtype": "Data",
+   "in_list_view": 1,
+   "label": "Key",
+   "reqd": 1
+  }
+ ],
+ "index_web_pages_for_search": 1,
+ "istable": 1,
+ "links": [],
+ "modified": "2021-11-03 19:14:40.054245",
+ "modified_by": "Administrator",
+ "module": "Accounts",
+ "name": "Currency Exchange Settings Result",
+ "owner": "Administrator",
+ "permissions": [],
+ "sort_field": "modified",
+ "sort_order": "DESC",
+ "track_changes": 1
+}
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.py b/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.py
new file mode 100644
index 0000000..1774128
--- /dev/null
+++ b/erpnext/accounts/doctype/currency_exchange_settings_result/currency_exchange_settings_result.py
@@ -0,0 +1,9 @@
+# Copyright (c) 2021, Wahni Green Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+# import frappe
+from frappe.model.document import Document
+
+
+class CurrencyExchangeSettingsResult(Document):
+	pass
diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index c5e4f7e..821a493 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -323,3 +323,4 @@
 erpnext.patches.v14_0.set_payroll_cost_centers
 erpnext.patches.v13_0.agriculture_deprecation_warning
 erpnext.patches.v14_0.delete_agriculture_doctypes
+erpnext.patches.v13_0.update_exchange_rate_settings
diff --git a/erpnext/patches/v13_0/update_exchange_rate_settings.py b/erpnext/patches/v13_0/update_exchange_rate_settings.py
new file mode 100644
index 0000000..b7ec232
--- /dev/null
+++ b/erpnext/patches/v13_0/update_exchange_rate_settings.py
@@ -0,0 +1,10 @@
+import frappe
+
+from erpnext.setup.install import setup_currency_exchange
+
+
+def execute():
+	frappe.reload_doc("accounts", "doctype", "currency_exchange_settings")
+	frappe.reload_doc("accounts", "doctype", "currency_exchange_settings_result")
+	frappe.reload_doc("accounts", "doctype", "currency_exchange_settings_details")
+	setup_currency_exchange()
\ No newline at end of file
diff --git a/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py b/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
index 2b007e9..06a79b4 100644
--- a/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
+++ b/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
@@ -62,8 +62,13 @@
 		if kwargs['params'].get('date') and kwargs['params'].get('from') and kwargs['params'].get('to'):
 			if test_exchange_values.get(kwargs['params']['date']):
 				return PatchResponse({'result': test_exchange_values[kwargs['params']['date']]}, 200)
+	elif args[0].startswith("https://frankfurter.app") and kwargs.get('params'):
+		if kwargs['params'].get('base') and kwargs['params'].get('symbols'):
+			date = args[0].replace("https://frankfurter.app/", "")
+			if test_exchange_values.get(date):
+				return PatchResponse({'rates': {kwargs['params'].get('symbols'): test_exchange_values.get(date)}}, 200)
 
-	return PatchResponse({'result': None}, 404)
+	return PatchResponse({'rates': None}, 404)
 
 @mock.patch('requests.get', side_effect=patched_requests_get)
 class TestCurrencyExchange(unittest.TestCase):
@@ -102,6 +107,41 @@
 		self.assertFalse(exchange_rate == 60)
 		self.assertEqual(flt(exchange_rate, 3), 65.1)
 
+	def test_exchange_rate_via_exchangerate_host(self, mock_get):
+		save_new_records(test_records)
+
+		# Update Currency Exchange Rate
+		settings = frappe.get_single("Currency Exchange Settings")
+		settings.service_provider = 'exchangerate.host'
+		settings.save()
+
+		# Update exchange
+		frappe.db.set_value("Accounts Settings", None, "allow_stale", 1)
+
+		# Start with allow_stale is True
+		exchange_rate = get_exchange_rate("USD", "INR", "2016-01-01", "for_buying")
+		self.assertEqual(flt(exchange_rate, 3), 60.0)
+
+		exchange_rate = get_exchange_rate("USD", "INR", "2016-01-15", "for_buying")
+		self.assertEqual(exchange_rate, 65.1)
+
+		exchange_rate = get_exchange_rate("USD", "INR", "2016-01-30", "for_selling")
+		self.assertEqual(exchange_rate, 62.9)
+
+		# Exchange rate as on 15th Dec, 2015
+		self.clear_cache()
+		exchange_rate = get_exchange_rate("USD", "INR", "2015-12-15", "for_selling")
+		self.assertFalse(exchange_rate == 60)
+		self.assertEqual(flt(exchange_rate, 3), 66.999)
+
+		exchange_rate = get_exchange_rate("USD", "INR", "2016-01-20", "for_buying")
+		self.assertFalse(exchange_rate == 60)
+		self.assertEqual(flt(exchange_rate, 3), 65.1)
+
+		settings = frappe.get_single("Currency Exchange Settings")
+		settings.service_provider = 'frankfurter.app'
+		settings.save()
+
 	def test_exchange_rate_strict(self, mock_get):
 		# strict currency settings
 		frappe.db.set_value("Accounts Settings", None, "allow_stale", 0)
diff --git a/erpnext/setup/install.py b/erpnext/setup/install.py
index 86c9b3f..bafaab8 100644
--- a/erpnext/setup/install.py
+++ b/erpnext/setup/install.py
@@ -60,6 +60,22 @@
 
 	frappe.db.set_default("date_format", "dd-mm-yyyy")
 
+	setup_currency_exchange()
+
+def setup_currency_exchange():
+	ces = frappe.get_single('Currency Exchange Settings')
+	try:
+		ces.set('result_key', [])
+		ces.set('req_params', [])
+
+		ces.api_endpoint = "https://frankfurter.app/{transaction_date}"
+		ces.append('result_key', {'key': 'rates'})
+		ces.append('result_key', {'key': '{to_currency}'})
+		ces.append('req_params', {'key': 'base', 'value': '{from_currency}'})
+		ces.append('req_params', {'key': 'symbols', 'value': '{to_currency}'})
+		ces.save()
+	except frappe.ValidationError:
+		pass
 
 def create_compact_item_print_custom_field():
 	create_custom_field('Print Settings', {
diff --git a/erpnext/setup/utils.py b/erpnext/setup/utils.py
index cad4c54..4441bb9 100644
--- a/erpnext/setup/utils.py
+++ b/erpnext/setup/utils.py
@@ -100,15 +100,21 @@
 
 		if not value:
 			import requests
-			api_url = "https://api.exchangerate.host/convert"
-			response = requests.get(api_url, params={
-				"date": transaction_date,
-				"from": from_currency,
-				"to": to_currency
-			})
+			settings = frappe.get_cached_doc('Currency Exchange Settings')
+			req_params = {
+				"transaction_date": transaction_date,
+				"from_currency": from_currency,
+				"to_currency": to_currency
+			}
+			params = {}
+			for row in settings.req_params:
+				params[row.key] = format_ces_api(row.value, req_params)
+			response = requests.get(format_ces_api(settings.api_endpoint, req_params), params=params)
 			# expire in 6 hours
 			response.raise_for_status()
-			value = response.json()["result"]
+			value = response.json()
+			for res_key in settings.result_key:
+				value = value[format_ces_api(str(res_key.key), req_params)]
 			cache.setex(name=key, time=21600, value=flt(value))
 		return flt(value)
 	except Exception:
@@ -116,6 +122,13 @@
 		frappe.msgprint(_("Unable to find exchange rate for {0} to {1} for key date {2}. Please create a Currency Exchange record manually").format(from_currency, to_currency, transaction_date))
 		return 0.0
 
+def format_ces_api(data, param):
+	return data.format(
+		transaction_date=param.get("transaction_date"),
+		to_currency=param.get("to_currency"),
+		from_currency=param.get("from_currency")
+	)
+
 def enable_all_roles_and_domains():
 	""" enable all roles and domain for testing """
 	# add all roles to users