diff --git a/InvenTree/InvenTree/settings.py b/InvenTree/InvenTree/settings.py
index 5cf0b0c544..f0a3312b39 100644
--- a/InvenTree/InvenTree/settings.py
+++ b/InvenTree/InvenTree/settings.py
@@ -513,9 +513,7 @@ CURRENCIES = CONFIG.get(
     ],
 )
 
-BASE_CURRENCY = CONFIG.get('base_currency', 'USD')
-
-EXCHANGE_BACKEND = 'InvenTree.exchange.InvenTreeManualExchangeBackend'
+EXCHANGE_BACKEND = 'InvenTree.exchange.ExchangeRateHostBackend'
 
 # Extract email settings from the config file
 email_config = CONFIG.get('email', {})
diff --git a/InvenTree/InvenTree/tasks.py b/InvenTree/InvenTree/tasks.py
index b81b4e6de4..ad33232fe0 100644
--- a/InvenTree/InvenTree/tasks.py
+++ b/InvenTree/InvenTree/tasks.py
@@ -169,22 +169,19 @@ def update_exchange_rates():
     try:
         import common.models
         from django.conf import settings
-        from djmoney.contrib.exchange.backends import FixerBackend
+        from InvenTree.exchange import ExchangeRateHostBackend
     except AppRegistryNotReady:
         # Apps not yet loaded!
         return
 
-    fixer_api_key = common.models.InvenTreeSetting.get_setting('INVENTREE_FIXER_API_KEY', '').strip()
-
-    if not fixer_api_key:
-        # API key not provided
-        return
-
-    backend = FixerBackend(access_key=fixer_api_key)
+    backend = ExchangeRateHostBackend()
+    print(f"Updating exchange rates from {backend.url}")
 
     currencies = ','.join(settings.CURRENCIES)
 
-    base = settings.BASE_CURRENCY
+    base = common.models.InvenTreeSetting.get_setting('INVENTREE_DEFAULT_CURRENCY')
+
+    print(f"Using base currency '{base}'")
 
     backend.update_rates(base_currency=base, symbols=currencies)
 
diff --git a/InvenTree/common/models.py b/InvenTree/common/models.py
index e499e9b801..99712b2a93 100644
--- a/InvenTree/common/models.py
+++ b/InvenTree/common/models.py
@@ -87,12 +87,6 @@ class InvenTreeSetting(models.Model):
             'choices': djmoney.settings.CURRENCY_CHOICES,
         },
 
-        'INVENTREE_FIXER_API_KEY': {
-            'name': _('fixer.io API key'),
-            'description': _('API key for fixer.io currency conversion service'),
-            'default': '',
-        },
-
         'INVENTREE_DOWNLOAD_FROM_URL': {
             'name': _('Download from URL'),
             'description': _('Allow download of remote images and files from external URL'),
diff --git a/InvenTree/templates/InvenTree/settings/global.html b/InvenTree/templates/InvenTree/settings/global.html
index 5c5dccfb2a..a0347490d0 100644
--- a/InvenTree/templates/InvenTree/settings/global.html
+++ b/InvenTree/templates/InvenTree/settings/global.html
@@ -20,7 +20,6 @@
         {% include "InvenTree/settings/setting.html" with key="INVENTREE_BASE_URL" icon="fa-globe" %}
         {% include "InvenTree/settings/setting.html" with key="INVENTREE_COMPANY_NAME" icon="fa-building" %}
         {% include "InvenTree/settings/setting.html" with key="INVENTREE_DEFAULT_CURRENCY" icon="fa-dollar-sign" %}
-        {% include "InvenTree/settings/setting.html" with key="INVENTREE_FIXER_API_KEY" icon="fa-key" %}
         {% include "InvenTree/settings/setting.html" with key="INVENTREE_DOWNLOAD_FROM_URL" icon="fa-cloud-download-alt" %}
     </tbody>
 </table>