{"id":419,"date":"2024-05-06T09:30:06","date_gmt":"2024-05-06T09:30:06","guid":{"rendered":"https:\/\/meetanshi.com\/blog\/2024\/05\/06\/magento-2-currency-setup\/"},"modified":"2025-01-02T09:44:58","modified_gmt":"2025-01-02T09:44:58","slug":"magento-2-currency-setup","status":"publish","type":"post","link":"https:\/\/meetanshi.com\/blog\/magento-2-currency-setup\/","title":{"rendered":"How to Configure Currency in Magento 2 (+ Multi-currency)"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This guide will show how you can configure Magento currency settings using step-by-step screenshots.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s start by understanding the basics of currency options in Magento 2.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"magento-2-currency-types\">Magento 2 Currency Types<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You can configure three types of currencies in Magento 2:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Base currency &#8211;<\/strong> It&#8217;s the currency set in the backend for product prices.<\/li>\n\n\n\n<li><strong>Display currency &#8211;<\/strong> It\u2019s the default frontend currency used to display product prices.<\/li>\n\n\n\n<li><strong>Allowed currencies &#8211;<\/strong> They\u2019re different currencies that can be used to display product prices on the front end.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-change-currency-in-magento-2\">How to Change Currency in Magento 2?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You can configure the currency settings right from the Magento 2 admin panel. Go to <strong>Magento admin &gt; Stores &gt; Configuration<\/strong>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/1-go-to-stores-configuration.png\" alt=\"Go to stores configuration in Magento 2 admin\" class=\"wp-image-45447\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">In the <strong>Configuration<\/strong>, expand the General section and select \u201c<strong>Currency Setup<\/strong>.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Choose the preferred currencies. For example, in this case, we set the both <strong>Base<\/strong> and <strong>Default<\/strong> currencies to <strong>USD<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Click the \u201c<strong>Save Confi<\/strong>g\u201d button to save the changes.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/2-configure-magento-2-currency-settings.png\" alt=\"Configure Magento 2 Currency Settings\" class=\"wp-image-45448\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">That\u2019s it \u2013 you\u2019ve successfully configured currency in Magento 2 store.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-set-up-magento-2-multi-currency\">How to Set up Magento 2 Multi-Currency?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Display currency<\/strong> and <strong>Allowed currency<\/strong> 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also configure the symbols and exchange rates for the selected currencies. Let\u2019s see how to set up multi-currency in Magento 2.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"step-1-select-multiple-currencies\">Step 1: Select Multiple Currencies<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In your Magento admin panel, go to <strong>Stores &gt; Configuration<\/strong> and select <strong>Currency<\/strong> under the <strong>General<\/strong> settings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now, in <strong>Allowed currencies<\/strong>, select the multiple currencies you want to add to your store. For example, I\u2019ve added a few here. Then click \u201c<strong>Save Config<\/strong>\u201d button.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/3-setup-multiple-currencies-in-magento-2.png\" alt=\"Set up Multiple currencies in Magento 2\" class=\"wp-image-45449\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Common Error:<\/strong>&nbsp;The default display currency you selected is not available in allowed currencies<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Solution:<\/strong>&nbsp;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 \u201cAllowed Currencies\u201d field.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"step-2-set-currency-rates\">Step 2: Set Currency Rates<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To do that, go to <strong>Stores &gt; Currency &gt; Currency Rates<\/strong>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/4-go-to-stores-currency.png\" alt=\"Go to stores currency\" class=\"wp-image-45450\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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&nbsp; <b>USD <\/b>as the base currency and added other currencies like <b>INR<\/b>, <b>IQD<\/b>, and <b>IRR<\/b>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also use services like Fixer.io to <a href=\"https:\/\/meetanshi.com\/blog\/auto-update-currency-rates-in-magento-2\/\">automatically update currency rates via API<\/a>. You can set up Magento 2 currency rates in the <b>Stores &gt; Configuration &gt; Currency Setup<\/b>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/5-set-currency-rates.png\" alt=\"Set currency rates in Magento 2\" class=\"wp-image-45451\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Once the rates are set up, click the \u201c<strong>Save Currency Rates<\/strong>\u201d button to apply the changes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"step-3-change-currency-symbol\">Step 3: Change Currency Symbol<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">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 <strong>Stores &gt; Currency &gt; Currency Symbols<\/strong> in your admin panel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll get the list of all available currencies in your store. Now, for Magento 2 change currency symbol, untick the \u201c<strong>Use Standard<\/strong>\u201d checkbox against the currency name and enter a custom symbol or text to use for the currency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then, click the \u201c<strong>Save Currency Symbols<\/strong>\u201d button to apply the changes.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/6-set-currency-symbols.png\" alt=\"Set currency symbols in Magento 2\" class=\"wp-image-45452\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">That\u2019s it! You\u2019ve successfully done the Magento 2 multi-currency setup. You can visit the customer view of your store to test it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For multi-currency stores, by default, you\u2019ll find a Magento 2 currency switcher in the header as shown below. Here, the customers can choose their preferred currency for shopping.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/7-magento-2-currency-switcher.png\" alt=\"Magento 2 currency switcher\" class=\"wp-image-45453\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">For example, we\u2019ve switched to the \u201c<strong>INR<\/strong>\u201d currency here. The product prices will be converted from USD (base) to INR currency as shown below.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/meetanshi.com\/blog\/wp-content\/uploads\/2019\/05\/8-multi-currency-in-magento-2.png\" alt=\"Multi-currency in Magento 2\" class=\"wp-image-45454\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Note:<\/strong> If you\u2019re not using any rate conversion API for multi-currency Magento 2 setup, it\u2019s advisable to regularly update them as per the market rates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For multi-currency setups, you can use solutions like <a href=\"https:\/\/meetanshi.com\/magento-2-paypal-multi-currency.html\">Magento 2 PayPal Multi-currency<\/a> extension to accept payments in the customer&#8217;s preferred currency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-switch-currency-automatically-based-on-customers-location\">How to Switch Currency Automatically Based on a Customer\u2019s Location?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our free <a href=\"https:\/\/meetanshi.com\/magento-2-currency-switcher.html\">Magento 2 Currency Switcher<\/a> extension allows you to auto-change store currency based on visitor\u2019s geographic location. It uses the IP address of the visitor to detect the location and auto-switches the display currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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,&#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-419","post","type-post","status-publish","format-standard","hentry","category-magento"],"acf":[],"_links":{"self":[{"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/posts\/419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/comments?post=419"}],"version-history":[{"count":1,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/posts\/419\/revisions"}],"predecessor-version":[{"id":4160,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/posts\/419\/revisions\/4160"}],"wp:attachment":[{"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/media?parent=419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/categories?post=419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/meetanshi.com\/blog\/wp-json\/wp\/v2\/tags?post=419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}