Thread: Currency Feeds

We are looking to expand our sales into other countries so have started looking at Currencies within Localization

It appears that the Currency Feed Url that is default is assuming that your base currency is Euros (EUR) and then calculations are formulated from that, for example €1 = £0.86

How can this be changed so that GBP is the base and as such the calculations would show £1 = €1.15

I believe we have found a reliable Currency Feed Url (http://feeds.currencysource.com/GBP.xml) unless anybody knows of a better one??

We just need to understand now how the Currency Feed XmlPackage is constructed.. any ideas or advice?

TIA..

Hi

We are based in the UK and support a number of UK ASPDNSF sites displaying multiple currencies but happily using the standard Euro Central bank feed with the Euro as the feed base currency but with GBP as the site currency.

You could certainly consider using a different source feed and writing your own XML.config to translate it into the ASPDNSF format but if you don't, all will work fine.

With Euro as the feed base currency, you'll see in the exchange rates page that the Euro has a multiplier of 1.00.

Let's work some scenarios...

-- If your store based currency is GBP, your product prices are GBP and if the customer is viewing in GBP, no exchange rate conversion takes place and the store just shows the product price as it is (plus VAT if your prices are stored excluding VAT).

-- Now, let's say the Customer wants to view your store in Euros and in the currency table, the exchange rate (from GBP to the Euro) is 0.8944...

To show product prices in Euros, the store will simply divide all your product prices by 0.8944.

-- Finally, this is where it gets clever, if the Customer wants to view your prices in USD and in the currency table, the dollar exchange rate (to the euro) is 1.3356...

Now, what happens is first the store converts your GBP product variant prices to the exchange rate base currency (Euro) by dividing your product prices by 0.8944. Now, it converts from the Euro into USD by multiplying that result by 1.3356.

...and prices are shown in USD.


So, after me rambling on. Unless I've misunderstood, I think you should be fine leaving things as they are. Just use the exchange rate rate with Euro as the base, switch the currencies on and everything should get displayed correctly.

..and remember to refresh your exchange rate table regularly, it isn't done automatically.

Get in touch if you want to discuss - happy to help.
All the best,
Adam

Yes it works jsut as Webopius says. We're Brits, thus base is GBP and we use the default Euro feed.

We have 7 x curencies 9 x loclales.

Only problem I've had recently is adding a further currency after setting up locales. Manuuel say it msut be doen after you have published the currencies. We had not seen this. Receipt email went bonkers, dispalying hte added currency inappropriatley. Not sure why though, and never got an anwser to my post. Un-published the additional currences and the fault remained. Got our techies on it and they sorted it.