How to Configure Currency in Magento 2

by Cloudways  August 1, 2016

Ecommerce is growing rapidly and is becoming the priority of lots of businesses worldwide. So it is important that before launching your store you set up the currency settings to engage your customers. Magento 2 provides you the facility to set up the currency for up to 200 countries around the globe. The currency symbol is shown in product prices, orders, and invoices. The store admin has the power to customize its appearance.

The currency chooser will appear in the header of the store front, if your store can accept more than one currency.

Configure Currency in Magento 2

This tutorial will help you to configure currency for your store in Magento 2, so that you can facilitate your customers to pay you in more than one currency.

Steps to Configure Currency in Magento 2

Step 1: Define the Allowed Currency/ies

  • Goto the Configuration from the Admin panel . Stores >> Settings>> Configuration.
  • Select Currency Setup under GENERAL tab on the left panel.
  • Open the Currency Options under the option General.
    • Base Currency : for the online transaction choose any base currency
    • Default Display Currency: the currency that is displayed on the pricing in your store.
    • Allowed Currencies : select list of currencies that you want to allow by just holding the ctrl key and then selecting the options.

Define the Allowed Currency

  • If the system shows the message to remind you about cache refreshment, then close it and refresh it.
  • To set the scope of the base currency
    • Under Catalog select Catalog  and then go to the Price section.
    • Catalog Price Scope set it either Global or Website.

Catalog Price Scope

Step 2: Configure the Import Connection

  • Select Currency Setup from the left panel under General open the Webservicex
    • Connection Timeout in seconds enter the amount of seconds after which the connection will time out.

Configure the Import Connection

Step 3: Setting up the Scheduled Import Settings

  • Open Scheduled import Setting section in the Currency Setup tab
  • Enables set Yes  if you want to auto update the  the currency rate and then do the following:
    • Service set the value from the drop down list. The default value is Web Services.
    • Start Time set the hour, minute and second after which the rates will be updated
    • Frequency set the value Daily, Weekly and Monthly for the updation of rates.
    • Error Email Recipient this field allows you to enter the email addresses of the persons you want to send email notifications of the error. If you want to add more than one address just separate them with a comma (,).
    • Error Email Sender the person who will appear on the email notification.
    • Error Email Template the Email template of the the use of the error notification.
  • Save Config to save and apply the changes.
  • If the system displayed the message with “ Cache Management” link, you have to click on the link to refresh the invalid cache.

Scheduled import Setting

Step 4:  Update the Currency Rates

You have to update the currency rate before undergoing any effect. These rates can be set as manual, or they can be imported. Also you can make the latest rates by just making them auto-update according the schedule that you will set. This can be done as mentioned below:

a. Update the Currency Rate Manually:

  • From the Admin sidebar choose Currency Rates after clicking
  • Choose the rate that you wanted to change and then change or overwrite the new value for each currency supported.
  • Hit Save Currency Rates.

b. Import Currency rates:

  • From the Admin sidebar choose Currency Rates after clicking
  • Choose the Import Service. “WebserviceX” is the default value of this field.
  • Click on the Import The new rates show up in the Currency Rates list. In the event that the rates have changed since the last update, the old rate shows up underneath for reference.
  • After doing the above steps click Save Currency Rates and your import is done.

c. Import Currency Rates on Schedule:

  • Enable cron on Magento 2
  • Do the Currency Rate Setup to setup the currencies that your store will accept and to build up the import connection and schedule.
  • Check the Currency Rates list to confirm that the rates are imported on schedule. At that point, wait for the time that is spent on frequency setting established for the schedule, and check the rates once more.

Modify the Currency Symbols

You can modify the currency symbols as you need to just follow the steps mentioned below.

Modify the Currency Symbols

  • Goto Stores >> Currency >> Currency Symbols from Admin panel.
  • Insert the custom currency that you want after clearing the Use Standard
  • To enable the new symbol just Save Currency Symbols.
  • On the system message don’t forget to refresh the cache by clicking the Cache. Management

Final Thoughts

This tutorial was written to help you setup the currency for your eStore, so that you can provide your customers the facility to use more than one currency. It will also be easier for the admin because there is a base currency on which all the transactions will be performed. Furthermore, it is more secure because Magento 2 provides you the facility to set up the timeout time for the ongoing transaction. And you can modify the currency symbols to if you want to. according to your need such as $.

If you want to ask any question, feel free to ask below in the comment section or via email.

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