I am using .net 4.0 for my web services (.asmx)

My client will send following xml string to webservice

<event>
<site>FLEX-CUBE</site>
<eventid>6F98CB30-17DE-48F8-99D9-7660F612ECCB</eventid>
<eventdata>
<currencies>
<currency>
<isocode>USD</isocode>
<bankbuyrate>3.65</bankbuyrate>
<banksellrate>3.695</banksellrate>
<STAFFbuyrate>3.673</STAFFbuyrate>
<STAFFsellrate>3.673</STAFFsellrate>
<displayname>USD</displayname>
<decimaldigits>4</decimaldigits>
</currency>
</currencies>
</eventdata>
</event>

<event>
<site>FLEX-CUBE</site>
<eventid>6F98CB30-17DE-48F8-99D9-7660F612ECCB</eventid>
<eventdata>
<currencies>
<currency>
<isocode>BDT</isocode>
<bankbuyrate>0.0469</bankbuyrate>
<banksellrate>0.0484</banksellrate>
<STAFFbuyrate>0.04742</STAFFbuyrate>
<STAFFsellrate>0.04742</STAFFsellrate>
<displayname>BDT</displayname>
<decimaldigits>4</decimaldigits>
</currency>
</currencies>
</eventdata>
</event>

Please let me know how can I parse these values and save it to our local database.

thanks in advance Junaid