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Currency Rates

In EspoCRM, it is possible to use multiple currencies for managing business transactions of a company. Businesses can specify the list of currencies that are used in their operations, the conversion rates for each currency, and, of course, they can designate a default currency.

The default currency is the primary currency of a company. It’s utilized to calculate the overall income of the company, forecast future revenues, create various reports, etc.

All the other currency types are useful if a business handles international transactions and its customers are using different currencies. In this case, using multiple currencies can help keep track of deals and payments more accurately and obviously retain more customers, allowing them the flexibility to pay in whatever currency is most convenient for them.