In Magento 2, you can change the currency displayed on the storefront and for the payment. You can also customize their symbols on product pages, invoices, etc.
This guide will show how you can configure Magento currency settings using step-by-step screenshots.
Let’s start by understanding the basics of currency options in Magento 2.
Magento 2 Currency Types
You can configure three types of currencies in Magento 2:
- Base currency – It’s the currency set in the backend for product prices.
- Display currency – It’s the default frontend currency used to display product prices.
- Allowed currencies – They’re different currencies that can be used to display product prices on the front end.
The base currency has a global/website-level scope and applies to all store views. However, the display and allowed currencies can be set up for individual store views.
How to Change Currency in Magento 2?
You can configure the currency settings right from the Magento 2 admin panel. Go to Magento admin > Stores > Configuration.
In the Configuration, expand the General section and select “Currency Setup.”
Choose the preferred currencies. For example, in this case, we set the both Base and Default currencies to USD.
Click the “Save Config” button to save the changes.
That’s it – you’ve successfully configured currency in Magento 2 store.
How to Set up Magento 2 Multi-Currency?
The Display currency and Allowed currency options are helpful for multi-currency stores in Magento 2. For instance, you can create multiple store views, each targeting a specific country, and assign respective region-wise currencies to them.
You can also configure the symbols and exchange rates for the selected currencies. Let’s see how to set up multi-currency in Magento 2.
Step 1: Select Multiple Currencies
In your Magento admin panel, go to Stores > Configuration and select Currency under the General settings.
Now, in Allowed currencies, select the multiple currencies you want to add to your store. For example, I’ve added a few here. Then click “Save Config” button.
Common Error: The default display currency you selected is not available in allowed currencies
Solution: The currency you set as the Default should also be selected in the list of allowed currencies. For example, USD in the above case should also be selected in the “Allowed Currencies” field.
Step 2: Set Currency Rates
You can set up exchange rates for the currencies in Magento 2. This is essential to ensure that the product prices are properly converted from Base to Display currency.
To do that, go to Stores > Currency > Currency Rates.
Now, set the currency exchange rates for all the multi-currencies in the store view based on the base currency. For example, here we have set the USD as the base currency and added other currencies like INR, IQD, and IRR.
You can also use services like Fixer.io to automatically update currency rates via API. You can set up Magento 2 currency rates in the Stores > Configuration > Currency Setup.
Once the rates are set up, click the “Save Currency Rates” button to apply the changes.
Step 3: Change Currency Symbol
Magento 2 displays the currencies using their default symbols. However, you can change these Magento multi-currency symbols from the backend. To do that, simply go to Stores > Currency > Currency Symbols in your admin panel.
You’ll get the list of all available currencies in your store. Now, for Magento 2 change currency symbol, untick the “Use Standard” checkbox against the currency name and enter a custom symbol or text to use for the currency.
Then, click the “Save Currency Symbols” button to apply the changes.
That’s it! You’ve successfully done the Magento 2 multi-currency setup. You can visit the customer view of your store to test it.
For multi-currency stores, by default, you’ll find a Magento 2 currency switcher in the header as shown below. Here, the customers can choose their preferred currency for shopping.
For example, we’ve switched to the “INR” currency here. The product prices will be converted from USD (base) to INR currency as shown below.
Note: If you’re not using any rate conversion API for multi-currency Magento 2 setup, it’s advisable to regularly update them as per the market rates.
For multi-currency setups, you can use solutions like Magento 2 PayPal Multi-currency extension to accept payments in the customer’s preferred currency.
How to Switch Currency Automatically Based on a Customer’s Location?
By default, Magento 2 requires the visitors to manually choose their currency from a currency dropdown. Now, this functionality can be overlooked by many customers, leading to poor experience. You can improve this by implementing an automatic currency switcher Magento 2 feature.
Our free Magento 2 Currency Switcher extension allows you to auto-change store currency based on visitor’s geographic location. It uses the IP address of the visitor to detect the location and auto-switches the display currency.
