How to Use Exchange Rates

Created by Ezra Weinstein, Modified on Wed, 30 Nov 2022 at 09:23 AM by Hannah Harris

To set up exchange rates, go to the Store Config module and use the search box or the jump to drop-down menu to get you to the Currency section, and scroll down to the Exchange Rates option.


Exchange Rates Option Guide

Payment Currency (1): Input the name of the currency.

Currency Symbol (2): Input the symbol used for the currency.

Currency Symbol Location (3): Choose from the drop-down list below (A) where you want the currency symbol in the price (Before Number or After Number).

Number of decimals (4): Choose how many decimals to display. It is recommended to keep the default value Let system decide. This will display at least 2 decimals and show more as needed. If you want to specify the amount of decimals in the price, you can choose any number 0-5 from the drop-down list below (B).

Thousands Separator (5): Input the symbol for how you want to separate the output of thousands. The default is , and will be displayed as 1,000.

Decimal Point (6): Input the symbol for how you want your decimal points to be shown. The default is . and will be displayed as 1.5.

Exchange Rate (7): Input the amount of currency units you input in (1) that equal to one unit of the currency you input in the main option for Currency Symbol at the top of the Currency section (For a guide to the rest of the Currency section, see Currency Section Guide). 

Delete (8): Select Delete to delete the exchange rate.

Add Currency Exchange Rate (9): Select Add Currency Exchange Rate to add an exchange rate.

Deciding What Number to Input Into the Exchange Rate Sub-Option (7)

The Exchange Rate sub-option (7), as seen in the guide above, requires you to input a decimal that represents the amount of secondary currency units that equal to one unit of the main currency for your store. For example, a common exchange rate between two similar currencies is the exchange rate between the US dollar and the Canadian dollar. If the main currency for your store is the US dollar, and you want a secondary currency for your store to be the Canadian dollar, in (7) you would input the amount of Canadian dollars that equal to $1 US dollar, which as of this writing is $1.25 Canadian dollars. In (7), you would leave off the currency symbol and just type in 1.25, as seen below.

Note: Exchange rates are usually flexible and can change on a daily basis. To stay up to date on current exchange rates, you can visit X-Rates - US Dollar Exchange Rates Table. If your main currency is not the US dollar, just select your main currency from the drop-down list on the left side of the screen.


Completing a Sale with an Exchange Rate

In order for a customer to pay for a sale using one of the secondary currencies you have enabled, when completing the sale (1), simply select that secondary currency from the Payment Currency drop-down list (2). coreSTORE will automatically convert the currency units from the main currency price to the secondary currency price (3), as seen below.

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