How to Configure Currency in Magento 2

Configure Currency Magento 2 to determine what currency customers are allowed to use when checking out on your store. The currency symbol will appear in product prices and sales documents such as orders and invoices. Most interestingly, store admins are able to customize its appearance if needed.

Moreover, with Magento 2 configuration, you can set more than 20 currency units of the corresponding countries in the world. If your store accepts multiple currencies, Currency Chooser is available in the header of the storefront.

Please read this post carefully to know what you can do with the currency in Magento 2 configuration.

Configure Currency in Magento 2

Firstly, you need to define which currencies are accepted to appear along with the price on your store.

• Configure Currency in Magento 2
  • Step 1: Select the Allowed Currencies
  • Step 2: Set the Import Connection
  • Step 3: Complete the Scheduled Import Settings
  • Step 4: Refresh the Currency Rates
• Modify the currency symbols
• Update Currency Rates

Step 1: Select the Allowed Currencies

• On the Admin Panel, go Stores > Settings > Configuration.
• On the left panel, under General, select Currency Setup.
• Open the Currency Options section,
  • Choose the primary currency for the Base Currency in the online transaction.
  • Assign Default Display Currency to the currency that you use to display pricing in your store.
  • In the Allowed Currencies list, collect any currencies you need for the payment in your store. If support multiple currencies, hold down the Ctrl key and select each option.

• When the system message reminding the cache refreshment appears, Close it and refresh it later.
• To determine the scope of the base currency, you need to:
  • On the left panel, under Catalog, select Catalog, and open the Price section.
  • Set Catalog Price Scope to either “Global” or “Website”.

Step 2: Set the Import Connection

• On the left panel, under General, select Currency Setup.
• Open the WebserviceX section, enter the accepted duration (in seconds) of inactivity before the connection times out in the Connection Timeout in Seconds field.

Step 3: Complete the Scheduled Import Settings

• Continuing in the Currency Setup tab, open the Scheduled Import Settings section.
• If you want to auto-update currency rate, choose “Yes” in the Enabled field. Then do the following:
  • Set Service by selecting the existing list and the default value is “Webservicex”.
  • Set Start Time (hours, munites, seconds) to auto-update the rate.
  • Set Frequence for the rate updating: Daily, Weekly, or Monthly.
  • In the Error Email Recipient field, you will insert an email address which receives the email notification when there is any error in the import process. If enter many emails, the comma is used to separate them.
  • Set Error Email Sender who will appear on the email notification
  • Set Error Email Template to the email template used for the error notification.
• Save Config to complete.
• When the system message displays together with “Cache Management” link, you need to click on the link to refresh the invalid cache.

Step 4: Refresh the Currency Rates

Make sure that the currency rates have been already updated with the current values before they go into effect. Scroll down this post and get the guide to update the rates manually even or to import the rates automatically.

Modify the currency symbols

As mentioned above, you can modify the currency symbols comfortably.

• On the Admin Panel, Stores > Currency > Currency Symbols.
• Enable to use the standard symbol or clear the Use Standard checkbox and insert a custom symbol as you want.
• Save Currency Symbols to enable the new symbol.
• Remember to refresh the cache by clicking the “Cache Management” link on the sysstem message.

Update Currency Rates

Before updating the currency rates, ensure that the current rate configuration is ready to use. The currency rates can be set manually, or imported into the store. Especially, you can configure the currency rates to be auto-update on schedule and this rates are always lastest.

Update a Currency Rate as manual

• On the Admin, Stores > Currency > Currency Rates.
• Choose the rate you want to change, and overwrite a new value for each currency supported.
• Click Save Currency Rates to enable it.

Import Currency Rates

• On the Admin, Stores > Currency > Currency Rates.
• Choose the Import Service while “WebserviceX” is the default service.
• Click on Import button.

The updated rates appear in the Currency Rates list. If the rates have changed since the last update, the old rate appears below for reference.

• Save Currency Rates to enable it.
• Remember to refresh the cache by clicking the “Cache Management” link on the sysstem message.

Import Currency Rates on Schedule

• Enable Cron (Schedule Task) on your store.
• Complete the Currency Rate Setup and establish the import connection and schedule.
• To ensure that the import run well on schedule, let check the Currency Rates list. Then, wait for the duration of the frequency setting established for the schedule, and check the rates again.