diff --git a/erpnext/accounts/doctype/journal_entry/journal_entry.py b/erpnext/accounts/doctype/journal_entry/journal_entry.py
index c89e24d..cd79363 100644
--- a/erpnext/accounts/doctype/journal_entry/journal_entry.py
+++ b/erpnext/accounts/doctype/journal_entry/journal_entry.py
@@ -327,7 +327,7 @@
 				d.exchange_rate = 1
 			elif not d.exchange_rate or d.exchange_rate == 1 or \
 				(d.reference_type in ("Sales Invoice", "Purchase Invoice") and d.reference_name and d.posting_date):
-                    # Modified to include the posting date for which to retreive the exchange rate
+					# Modified to include the posting date for which to retreive the exchange rate
 					d.exchange_rate = get_exchange_rate(self.posting_date, d.account, d.account_currency, self.company,
 						d.reference_type, d.reference_name, d.debit, d.credit, d.exchange_rate)
 
@@ -649,7 +649,8 @@
 	cost_center = frappe.db.get_value("Company", ref_doc.company, "cost_center")
 	exchange_rate = 1
 	if args.get("party_account"):
-        # Modified to include the posting date for which the exchange rate is required. Assumed to be the posting date in the reference document
+		# Modified to include the posting date for which the exchange rate is required. 
+		# Assumed to be the posting date in the reference document
 		exchange_rate = get_exchange_rate(ref_doc.posting_date, args.get("party_account"), args.get("party_account_currency"),
 			ref_doc.company, ref_doc.doctype, ref_doc.name)
 
@@ -683,8 +684,8 @@
 	bank_account = get_default_bank_cash_account(ref_doc.company, "Bank", account=args.get("bank_account"))
 	if bank_account:
 		bank_row.update(bank_account)
-        # Modified to include the posting date for which the exchange rate is required. Assumed to be the posting date of the 
-        # reference date
+		# Modified to include the posting date for which the exchange rate is required. 
+		# Assumed to be the posting date of the reference date
 		bank_row.exchange_rate = get_exchange_rate(ref_doc.posting_date, bank_account["account"],
 			bank_account["account_currency"], ref_doc.company)
 
@@ -809,8 +810,9 @@
 		"party_type": party_type,
 		"account_type": account_details.account_type,
 		"account_currency": account_details.account_currency or company_currency,
-        # The date used to retreive the exchange rate here is the date passed in as an argument to this function. 
-        # It is assumed to be the date on which the balance is sought
+		
+		# The date used to retreive the exchange rate here is the date passed in 
+		# as an argument to this function. It is assumed to be the date on which the balance is sought
 		"exchange_rate": get_exchange_rate(date, account, account_details.account_currency,
 			company, debit=debit, credit=credit, exchange_rate=exchange_rate)
 	}
@@ -849,10 +851,10 @@
 				(account_details.root_type == "Liability" and debit)):
 			exchange_rate = get_average_exchange_rate(account)
 
+		# The date used to retreive the exchange rate here is the date passed 
+		# in as an argument to this function.
 		if not exchange_rate and account_currency and posting_date:
-            # The date used to retreive the exchange rate here is the date passed in as an argument to this function. 
-			exchange_rate = get_exchange_rate(posting_date, account_currency, company_currency)
-
+			exchange_rate = get_exchange_rate(account_currency, company_currency, posting_date)
 	else:
 		exchange_rate = 1
 
diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.py b/erpnext/accounts/doctype/payment_entry/payment_entry.py
index ef6eec9..3e10b51 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.py
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.py
@@ -152,12 +152,12 @@
 			elif self.payment_type in ("Pay", "Internal Transfer"):
 				self.source_exchange_rate = get_average_exchange_rate(self.paid_from)
 			else:
-				self.source_exchange_rate = get_exchange_rate(self.posting_date, self.paid_from_account_currency, 
-					self.company_currency)
+				self.source_exchange_rate = get_exchange_rate(self.paid_from_account_currency, 
+					self.company_currency, self.posting_date)
 		
 		if self.paid_to and not self.target_exchange_rate:
-			self.target_exchange_rate = get_exchange_rate(self.posting_date, self.paid_to_account_currency, 
-				self.company_currency)
+			self.target_exchange_rate = get_exchange_rate(self.paid_to_account_currency, 
+				self.company_currency, self.posting_date)
 				
 	def validate_mandatory(self):
 		for field in ("paid_amount", "received_amount", "source_exchange_rate", "target_exchange_rate"):
@@ -517,8 +517,9 @@
 	order_list = []
 	for d in orders:
 		d["voucher_type"] = voucher_type
-        # This assumes that the exchange rate required is the one in the SO
-		d["exchange_rate"] = get_exchange_rate(posting_date,party_account_currency, company_currency)
+		# This assumes that the exchange rate required is the one in the SO
+		d["exchange_rate"] = get_exchange_rate(party_account_currency, 
+			company_currency, posting_date)
 		order_list.append(d)
 
 	return order_list
@@ -593,16 +594,19 @@
 			exchange_rate = 1
 		else:
 			total_amount = ref_doc.grand_total
-            # Get the exchange rate from the original ref doc or get it based on the posting date of the ref doc
+			
+			# Get the exchange rate from the original ref doc 
+			# or get it based on the posting date of the ref doc
 			exchange_rate = ref_doc.get("conversion_rate") or \
-				get_exchange_rate(ref_doc.posting_date, party_account_currency, ref_doc.company_currency)
+				get_exchange_rate(party_account_currency, ref_doc.company_currency, ref_doc.posting_date)
 		
 		outstanding_amount = ref_doc.get("outstanding_amount") \
 			if reference_doctype in ("Sales Invoice", "Purchase Invoice") \
 			else flt(total_amount) - flt(ref_doc.advance_paid)			
 	else:
-        # Get the exchange rate based on the posting date of the ref doc
-		exchange_rate = get_exchange_rate(ref_doc.posting_date, party_account_currency, ref_doc.company_currency)
+		# Get the exchange rate based on the posting date of the ref doc
+		exchange_rate = get_exchange_rate(party_account_currency, 
+			ref_doc.company_currency, ref_doc.posting_date)
 		
 	return frappe._dict({
 		"due_date": ref_doc.get("due_date"),
diff --git a/erpnext/accounts/doctype/payment_request/test_payment_request.py b/erpnext/accounts/doctype/payment_request/test_payment_request.py
index d695bf6..bf3e24f 100644
--- a/erpnext/accounts/doctype/payment_request/test_payment_request.py
+++ b/erpnext/accounts/doctype/payment_request/test_payment_request.py
@@ -9,8 +9,6 @@
 from erpnext.accounts.doctype.payment_request.payment_request import make_payment_request
 from erpnext.accounts.doctype.sales_invoice.test_sales_invoice import create_sales_invoice
 from erpnext.setup.utils import get_exchange_rate
-from frappe.utils import nowdate
-# test_records = frappe.get_test_records('Payment Request')
 
 test_dependencies = ["Currency Exchange", "Journal Entry", "Contact", "Address"]
 
@@ -53,7 +51,7 @@
 		self.assertEquals(pr.reference_name, so_inr.name)
 		self.assertEquals(pr.currency, "INR")
 
-		conversion_rate = get_exchange_rate(nowdate(), "USD", "INR")
+		conversion_rate = get_exchange_rate("USD", "INR")
 
 		si_usd = create_sales_invoice(currency="USD", conversion_rate=conversion_rate)
 		pr = make_payment_request(dt="Sales Invoice", dn=si_usd.name, recipient_id="saurabh@erpnext.com")
diff --git a/erpnext/accounts/doctype/sales_invoice/pos.py b/erpnext/accounts/doctype/sales_invoice/pos.py
index eeb5560..9fb11f2 100644
--- a/erpnext/accounts/doctype/sales_invoice/pos.py
+++ b/erpnext/accounts/doctype/sales_invoice/pos.py
@@ -3,7 +3,6 @@
 
 from __future__ import unicode_literals
 import frappe, json
-from frappe import _
 from frappe.utils import nowdate
 from erpnext.setup.utils import get_exchange_rate
 from erpnext.stock.get_item_details import get_pos_profile
@@ -63,8 +62,10 @@
 
 	doc.currency = pos_profile.get('currency') or company_data.default_currency
 	doc.conversion_rate = 1.0
+	
 	if doc.currency != company_data.default_currency:
-		doc.conversion_rate = get_exchange_rate(doc.posting_date, doc.currency, company_data.default_currency)
+		doc.conversion_rate = get_exchange_rate(doc.currency, company_data.default_currency, doc.posting_date)
+		
 	doc.selling_price_list = pos_profile.get('selling_price_list') or \
 		frappe.db.get_value('Selling Settings', None, 'selling_price_list')
 	doc.naming_series = pos_profile.get('naming_series') or 'SINV-'
diff --git a/erpnext/buying/report/quoted_item_comparison/quoted_item_comparison.py b/erpnext/buying/report/quoted_item_comparison/quoted_item_comparison.py
index 2b024ef..03f7a34 100644
--- a/erpnext/buying/report/quoted_item_comparison/quoted_item_comparison.py
+++ b/erpnext/buying/report/quoted_item_comparison/quoted_item_comparison.py
@@ -3,7 +3,6 @@
 
 from __future__ import unicode_literals
 from erpnext.setup.utils import get_exchange_rate
-from erpnext.utils import nowdate
 
 import frappe
 
@@ -40,7 +39,7 @@
 		#Add a row for each supplier
 		for root in set(suppliers):
 			supplier_currency = frappe.db.get_value("Supplier",root,"default_currency")
-			exg = get_exchange_rate(nowdate(),supplier_currency,company_currency)
+			exg = get_exchange_rate(supplier_currency, company_currency)
 
 			row = frappe._dict({
 				"supplier_name": root
diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index b998bbd..554529c 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -144,8 +144,8 @@
 					self.plc_conversion_rate = 1.0
 
 				elif not self.plc_conversion_rate:
-					self.plc_conversion_rate = get_exchange_rate(transaction_date, 
-						self.price_list_currency, self.company_currency)
+					self.plc_conversion_rate = get_exchange_rate(self.price_list_currency, 
+						self.company_currency, transaction_date)
 
 			# currency
 			if not self.currency:
@@ -154,8 +154,8 @@
 			elif self.currency == self.company_currency:
 				self.conversion_rate = 1.0
 			elif not self.conversion_rate:
-				self.conversion_rate = get_exchange_rate(transaction_date, self.currency,
-					self.company_currency)
+				self.conversion_rate = get_exchange_rate(self.currency,
+					self.company_currency, transaction_date)
 
 	def set_missing_item_details(self, for_validate=False):
 		"""set missing item values"""
diff --git a/erpnext/crm/doctype/opportunity/opportunity.py b/erpnext/crm/doctype/opportunity/opportunity.py
index 38164cc..6ee9003 100644
--- a/erpnext/crm/doctype/opportunity/opportunity.py
+++ b/erpnext/crm/doctype/opportunity/opportunity.py
@@ -205,7 +205,8 @@
 		if company_currency == quotation.currency:
 			exchange_rate = 1
 		else:
-			exchange_rate = get_exchange_rate(quotation.transaction_date, quotation.currency, company_currency)
+			exchange_rate = get_exchange_rate(quotation.currency, company_currency, 
+				quotation.transaction_date)
 
 		quotation.conversion_rate = exchange_rate
 
diff --git a/erpnext/demo/user/purchase.py b/erpnext/demo/user/purchase.py
index c7ec62b..ab8ec77 100644
--- a/erpnext/demo/user/purchase.py
+++ b/erpnext/demo/user/purchase.py
@@ -12,7 +12,6 @@
 from erpnext.stock.doctype.material_request.material_request import make_request_for_quotation
 from erpnext.buying.doctype.request_for_quotation.request_for_quotation import \
 			 make_supplier_quotation as make_quotation_from_rfq
-from frappe.utils.nowdate
 
 def work():
 	frappe.set_user(frappe.db.get_global('demo_purchase_user'))
@@ -57,7 +56,7 @@
 	if company_currency == party_account_currency:
 		exchange_rate = 1
 	else:
-		exchange_rate = get_exchange_rate(nowdate(), party_account_currency, company_currency)
+		exchange_rate = get_exchange_rate(party_account_currency, company_currency)
 
 	# make supplier quotations
 	if random.random() < 0.2:
diff --git a/erpnext/demo/user/sales.py b/erpnext/demo/user/sales.py
index b9e6535..10df143 100644
--- a/erpnext/demo/user/sales.py
+++ b/erpnext/demo/user/sales.py
@@ -9,7 +9,6 @@
 from erpnext.setup.utils import get_exchange_rate
 from erpnext.accounts.party import get_party_account_currency
 from erpnext.accounts.doctype.payment_request.payment_request import make_payment_request, make_payment_entry
-from frappe.utils import nowdate
 
 def work():
 	frappe.set_user(frappe.db.get_global('demo_sales_user_2'))
@@ -89,7 +88,7 @@
 		if company_currency == party_account_currency:
 			exchange_rate = 1
 		else:
-			exchange_rate = get_exchange_rate(nowdate(), party_account_currency, company_currency)
+			exchange_rate = get_exchange_rate(party_account_currency, company_currency)
 
 		qtn = frappe.get_doc({
 			"creation": frappe.flags.current_date,
diff --git a/erpnext/manufacturing/doctype/bom/bom.py b/erpnext/manufacturing/doctype/bom/bom.py
index 783df20..2a27922 100644
--- a/erpnext/manufacturing/doctype/bom/bom.py
+++ b/erpnext/manufacturing/doctype/bom/bom.py
@@ -3,7 +3,7 @@
 
 from __future__ import unicode_literals
 import frappe
-from frappe.utils import cint, cstr, flt, nowdate
+from frappe.utils import cint, cstr, flt
 from frappe import _
 from erpnext.setup.utils import get_exchange_rate
 from frappe.model.document import Document
@@ -229,7 +229,7 @@
 			frappe.throw(_("Currency of the price list {0} is not similar with the selected currency {1}").format(self.buying_price_list, self.currency))
 
 	def set_conversion_rate(self):
-		self.conversion_rate = get_exchange_rate(nowdate(), self.currency, self.company_currency())
+		self.conversion_rate = get_exchange_rate(self.currency, self.company_currency())
 
 	def validate_materials(self):
 		""" Validate raw material entries """
diff --git a/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py b/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
index 69ca1c2..181f072 100644
--- a/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
+++ b/erpnext/setup/doctype/currency_exchange/test_currency_exchange.py
@@ -11,10 +11,10 @@
 		from erpnext.setup.utils import get_exchange_rate
 		
 		# Exchange rate as on 15th Jan, 2016, should be fetched from Currency Exchange record
-		exchange_rate = get_exchange_rate("2016-01-15", "USD", "INR")
+		exchange_rate = get_exchange_rate("USD", "INR", "2016-01-15")
 		self.assertEqual(exchange_rate, 60.0)
 		
 		# Exchange rate as on 15th Dec, 2015, should be fetched from fixer.io
-		exchange_rate = get_exchange_rate("2015-12-15", "USD", "INR")
+		exchange_rate = get_exchange_rate("USD", "INR", "2015-12-15")
 		self.assertFalse(exchange_rate==60)
 		
\ No newline at end of file
diff --git a/erpnext/setup/utils.py b/erpnext/setup/utils.py
index 9a8ae07..0c214e4 100644
--- a/erpnext/setup/utils.py
+++ b/erpnext/setup/utils.py
@@ -5,7 +5,7 @@
 import frappe
 from frappe import _, throw
 from frappe.utils import flt
-from frappe.utils import get_datetime, get_datetime_str
+from frappe.utils import get_datetime_str, nowdate
 	
 def get_company_currency(company):
 	currency = frappe.db.get_value("Company", company, "default_currency", cache=True)
@@ -65,8 +65,10 @@
 	frappe.db.commit()
 
 @frappe.whitelist()
-def get_exchange_rate(transaction_date, from_currency, to_currency):
-	if not (transaction_date and from_currency and to_currency):
+def get_exchange_rate(from_currency, to_currency, transaction_date=None):
+	if not transaction_date:
+		transaction_date = nowdate()
+	if not (from_currency and to_currency):
 		# manqala 19/09/2016: Should this be an empty return or should it throw and exception?
 		return
 	
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index c0fe3a6..16ea58e 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -482,7 +482,8 @@
 	if (not plc_conversion_rate) or (price_list_currency and args.price_list_currency \
 		and price_list_currency != args.price_list_currency):
         # cksgb 19/09/2016: added args.transaction_date as posting_date argument for get_exchange_rate
-			plc_conversion_rate = get_exchange_rate(args.transaction_date, price_list_currency, args.currency) or plc_conversion_rate
+			plc_conversion_rate = get_exchange_rate(price_list_currency, args.currency, 
+				args.transaction_date) or plc_conversion_rate
 
 	return frappe._dict({
 		"price_list_currency": price_list_currency,