diff --git a/electrum/exchange_rate.py b/electrum/exchange_rate.py
index 03b23356e..fe9d800e7 100644
--- a/electrum/exchange_rate.py
+++ b/electrum/exchange_rate.py
@@ -80,7 +80,7 @@ class ExchangeBase(Logger):
             self.logger.info(f"getting fx quotes for {ccy}")
             self.quotes = await self.get_rates(ccy)
             self.logger.info("received fx quotes")
-        except aiohttp.ClientError as e:
+        except (aiohttp.ClientError, asyncio.TimeoutError) as e:
             self.logger.info(f"failed fx quotes: {repr(e)}")
             self.quotes = {}
         except Exception as e:
@@ -111,7 +111,7 @@ class ExchangeBase(Logger):
             self.logger.info(f"requesting fx history for {ccy}")
             h = await self.request_history(ccy)
             self.logger.info(f"received fx history for {ccy}")
-        except aiohttp.ClientError as e:
+        except (aiohttp.ClientError, asyncio.TimeoutError) as e:
             self.logger.info(f"failed fx history: {repr(e)}")
             return
         except Exception as e: