currency rates

[wyred]

Currency conversion rates change frequently.

After a year, what if the conversion rate for a specific currency has changed so much it makes currency values of historic records inaccurate?

How can we solve this problem?

[malcolmh]

Currency conversion rates change frequently.

After a year, what if the conversion rate for a specific currency has changed so much it makes currency values of historic records inaccurate?

How can we solve this problem?

If you look in the Admin-> Repair -> Opportunity section you have options to change the Amounts to match the current exchange rates, either all Opportunites or all Opportunities except the closed ones. Some of our clients want the closed Opportunities to remain the same

[wyred]

I don't think that solves the problem. I have difficulties explaining so please bear with me.

Let's say I have a stored sum of 1000 in USD in year 2000. My account is configured to view currencies in SGD(Singapore currency, example rate of 1.4). I will be viewing this sum as $1400.

In 2006, assuming the currency rate has increased to 1.8, when I look back at the history, I will now see this sum as $1800.

There is a huge difference of $400 because of the change in currency rate over the years.

However, my boss argues that we should be viewing the sum as $1400 and not $1800.

I hope it will be clearer now. :)

[malcolmh]

The exchange rate used when creating the record (1.4 in your example) does not change, unless the record is modified or the Admin tool as described above is used.

Hope this helps

[smith23451]

Currency Converter are very useful in concerting currency from one Country's Currency to another country. As these are very helpful to the people who are going to out side Countries for residence. So that they can earn and send money to the home through These converter. So these plays a vital role in the Global market. If You are facing trouble in How to use online Foreign currency converters. I can help you in providing the information.
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Smith
Currency Converter

[parveen18]

Hllo Smith,

Thanks for sharing your thoughts on Currency Rates. Keep posting..


Regards,
Parveen
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Currency Rates

[sikkandhar]

Is there is any other way of keeping the history of exchange rates. or maintain exchange by quarter . And it seems report always convert to current currency exchange and shows.