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Foreign currencies

Estimated reading: 3 minutes 202 views

Odoo Sales can quote and invoice in a wide range of foreign currencies, useful for any business selling internationally. This guide covers setting the main currency, updating rates, and fixing prices where needed.

Before you start

The Accounting app must be installed to use multiple currencies in Odoo Sales. Odoo supports up to 167 currencies in total.

How to set the main currency

  1. Go to Accounting > Configuration > Settings > Currencies.
  2. Odoo sets the main currency based on the company’s location by default. Change it using the Currency drop-down if needed, and click Save.

How to enable automatic rate updates

Odoo can update currency rates automatically from a designated financial service. Enable Automatic Currency Rates on the same Currencies settings page, choose a service and update interval, and set the next run date.

Managing currencies

Each currency has its own detail form, showing the currency code, name, active status, and its Currency Unit and Subunit (for example, dollars and cents). Under Rates, add or adjust exchange rates by date and company, shown as units per the main currency and vice versa. Note that only one pricelist can be active per currency.

If a currency is set as the company’s main currency, a blue banner confirms this on its detail page, and the Rates tab is hidden, since all other rates are calculated relative to it.

How to create a new currency

If a currency is not listed, click New on the Currencies page or from a currency form. Enter the code and name, set the Currency Unit and Subunit, mark it Active, and add exchange rate details under Rates.

How to fix a price in a foreign currency

To avoid a price moving with the exchange rate, set a fixed price on a pricelist instead.

  1. Go to Sales > Products > Products and open a product.
  2. Click the Extra Prices smart button.
  3. On the Price Rules page, click New, choose the pricelist, set the Minimum Quantity and Price, and optionally a start and end date.

This price overrides the automatic conversion for that pricelist.

Frequently asked questions

Do I need the Accounting app to use multiple currencies in Sales?

Yes, the Accounting app must be installed to use multiple currencies in Odoo Sales.

Can I set a fixed price for a product in a foreign currency?

Yes. Use Extra Prices on the product to set a fixed price for a pricelist, which overrides automatic conversion.

How many currencies does Odoo support?

Up to 167, though only currencies that are made active appear for use in pricelists.

Need help?

Need help selling internationally with Odoo Sales? Contact support@thoughtlogik.com or see our Odoo implementation services.

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