Exchange Rates

Exchange Rates

CocoonOPS automatically imports currency exchange rates daily from freecurrencyapi.com which provides the intra-bank exchange rates.

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Use the Base Currency drop down to select the currency you want to work with.


You can set a percentage adjustment for costs (buying adjustment) and revenue (sales adjustment). This applies the specified percentage as a margin to the exchange rate when converting a given currency to the base currency.


This can be applied either to a specific currency or as a default, which is applied to all currencies that do not have a specific adjustment set.


Negative percentage values can also be entered to adjust the exchange rate to match the exchange rate our financial services provider offers.


For example, if 1.1701 EUR = 1 GBP and a sales adjustment of 10% is set, the exchange rate used will be 1.2871 EUR = 1 GBP.


Info
 When entering a rate, the currency exchange rate is automatically applied at the point the rate record is created. The exchange rate used can be manually changed on a single transaction at any time. 

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