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Currencies

The Currencies-node allows you to create and manage currencies on a solution, if you want to make it possible for customers to pay in their local currency. On each currency you can set up an exchange rate in relation to the base currency. Currencies_01 To create a new currency:

  • Click New currency.
  • Select the currency you wish to add
  • Most of the currency-fields are pre-filled, but you need to pay attention to:
    • Rate - set an exchange rate in relation to the base currency, see here
    • Rounding - select a rounding method
  • You can also check Default if this is the default or base currency

Rates

Rates - exchange rates - are defined in relation to the default currency and the base rate defined on it – for example:

  • Your default currency is DKK – Danish Kroner
  • The base rate is set to 10000 – this allows for 2 decimal precision when converting currencies

Each additional currency is then defined by entering the amount of base currency units it takes to buy the base rate in the new currency – for example:

  • US Dollars – you need 74770 base currency units (DKK) to buy the base rate (10000) in USD
  • Turkish Lira – you need 4018 base currency units (DKK) to buy the base rate (10000) in TRY
  • Euros – you need 74425 base currency units (DKK) to buy the base rate (10000) in EUR
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