How to Configure Currencies in Magento 2 Store

The rapid growth of Ecommerce is evident and it has become a priority for countless businesses in today’s world. For you it is now very important to set up your store’s currency settings before the launching of your store since your customers will get engaged with it after the launch. There is a facility which Magento 2 provides and it lets you set up the currency for around 200 countries of the globe. For this purpose and ease of use the currency symbol is provided in the product prices, invoices and the orders. As a store admin you get the power to customize your own store’s appearance.

You will find the currency chooser at the header of the store’s front, and it enables your store to accept more than one currency.

If you happen to be unaware of how to configure the currency for your store in Magento 2 then follow the steps to learn with us and this will facilitate your customers to pay you in more than one currency.

Configure Currency Step to Step

Step 1: Define the Allowed Currency

– From the Admin panel Go to the Configuration Stores >> Settings>>Configuration.

– Under the GENERAL tab on the left panel you will find the Currency Setup, Select that.

– Then from under the GENERAL, Open the Currency Options.

– Base Currency : to do the online transaction select any base currency

– Default Display Currency: In your store the currency which is being displayed as the pricing.

– Allowed Currencies : Just by holding the ctrl key you can select the list of currencies which you want to allow and after this select the options.

– In case the system alerts you with a reminder message about cache refreshment, then close that and refresh it.

– Setting up the scope of the base currency

– To go to the Price section, Under Catalog select the Catalog

– Catalog Price Scope, select that as either Global or Website.

Step 2: Configure the Import Connection

– In the left panel under General option, Select Currency Setup then Open the Webservicex

– Connection Timeout in seconds Put in the number of seconds after which the connection times out and expires.

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 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 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.

Step 4: Updating Currency Rates

Remember that the update in the currency rate you have to do it before undergoing any effects.

You can either set these rates as manual, or you can import them. Also you can set the latest rates just by setting them to auto-update according to the schedule which you will set. This process can be done in the way as mentioned below:

Updating Currency Rate Manually:

– From the Admin sidebar choose Currency Rates after clicking Stores.

– Choose the rate that you wanted to change and then change or overwrite the new value for each currency supported.

– Hit Save Currency Rates.

Importing Currency rates:

– From the Admin sidebar choose Currency Rates after clicking Stores.

– Choose the Import Service. “WebserviceX” is the default value of this field.

– Click on the Import button. 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.

– Once you have done the above steps click Save Currency Rates and your import is done.

Importing Currency Rates on Schedule:

– Enable cron on Magento 2 store.

– Do the Currency Rate Setup to setup the currencies that your store will accept and to build up the import connection and schedule.

– To ensure that the rates are imported on schedule, check the Currency Rates list. Now you have to wait for the time that it takes on frequency setting established for the schedule, and after this, do check the rates once more.

Modifying the Currency Symbols

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

– Go to Stores >> Currency >> Currency Symbols from Admin panel.

– Insert the custom currency that you want after clearing the Use Standard checkbox.

– 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 link.

Final Thoughts

I made this tutorial to assist you in setting different currencies for your Magento store, so that you can facilitate your customers in using more than one currency. This will also provide ease to you as an admin since there is a base currency on which all the transactions will be performed.

Nevertheless, it happens to be more secure way as through Magento 2 you are getting the facility to set up the timeout time for your stores ongoing transactions. Another additional advantage that you get is that you can easily modify the currency symbols too in case you want it to be according to your needs, such as $(American currency).

If you have any questions or queries which you want to ask, feel free to leave a comment below and ask or you can ask via email too. ☺