Currencies in Magento

Overview

Some stores need to be able to accept multiple currencies in Magento.

If you have a shipping carrier that uses a different currency than your store allows then no shipping rates will be returned. For example, a store that allows only US Dollars will not display any rates from UPS Canada as the UPS Canada carrier returns rates in Canadian Dollars. In that scenario, CAD must be an allowed currency in your store.

Configuration

NB: This is a simplified description as this is core Magento functionality. For a more detailed explanation please see the official Magento 1 documentation or the official Magento 2 documentation.

To define the currencies that are used navigate to System -> Configuration -> Currency Setup for Magento 1 or Stores -> Configuration -> General -> Currency setup for Magento 2

  • Base Currency – this is the default/primary currency that you are going to work with.
  • Default Display Currency – this is the default currency to be displayed.
  • Allowed Currencies – select all of the currencies that you allow in your store here. Note that the base currency and default display currency must be selected.

Next, define the currency conversion. This is required before the currencies other than the base currency will be accepted.

For Magento 1 navigate to System -> Manage Currency -> Rates or, for Magento 2, navigate to Stores -> Currency Rates. You should see all of the currencies that are selected in the “Allowed currencies” list from the previous step.

You can either manually define the currency conversion in the fields provided or click the “Import” button to automatically import the currency conversion rates.

That’s it! You’re all setup to use multiple currencies.