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Managing Currency Rates


Purpose:
 
To explain how to manage your currency exchange rates.
 
Solution:
  1. Select System (horizontal top menu) / Manage Currency Rates.   This option contains a table of Base Currencies and Allowed Currencies, with the relative value of each compared to the Base Currency.  Each Base Currency will have its own row, and each Allowed Currency will have its own column.  When the row value and column value for a cell are the same (for example, where the US Dollars Base Currency and Allowed Currency intersect), the rate will be 1.0000.  All other rates in the same row will be a ratio of this.
  2. This option provides you a way to manually set the currency exchange rates.
  3. Save your changes.

 

 TIP: 
Allowed currencies and the default currency must be set up separately.  See Setting Up Multiple Currencies for configuration instructions.
 
 TIP: 
If you prefer to manage your currency exchange rates through the external service, WebserviceX, see Updating Exchange Rates for configuration instructions.
 
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