Handling of currencies

How to work with currencies in Merchant Center

In the Merchant Center, under Settings > Currencies, you'll find a list of available currencies. Here, you can add new currencies or edit existing ones.

Field Descriptions:

• Name: The full name of the currency.
• Rate: The exchange rate for the currency. This rate is static and must be manually updated if changes are needed.
• Symbol: The text or symbol used to represent the currency (e.g., using € for Euro instead of EUR). This symbol is often displayed alongside prices in stores.
• Abbreviation: The three-letter code for the currency (e.g., USD for US Dollar).
• Decimals -  You can set up to 2 decimals for all currencies, except the default currency. The default currency’s decimals are based on the product's set prices, which overrides this setting.
• Rounding Method - How you want the currency to behave:
  • Default rounding - Rounds to the defined number of decimals.
  • Nearest 9 - Rounds up to nearest 9. For example 36 will round up to 39, or 31 will round down to 29
  • Nearest integer - Rounds up to nearest integer. For example 36 will round up to 40, or 31 will round down to 30 
  • Nearest point 9 -  Rounds up to nearest point 9. For example 19.7 will round up to 19.9 or 19.2 will round down to 18.9.
• Price Multiplier - when used alongside the exchange rate, adjusts prices for a specific currency—allowing merchants to account for VAT or set lower or higher prices in a market (e.g., using a multiplier of 0.8).
• Space for symbol - If checked, a space between the symbol and price will be applied
• Put symbol behind - The placement of the symbol, if checked the symbol will be place behind the numbers in the price.

Adding a New Currency:

1. Add the currency:

   • Go to currency section under Settings > Currencies and click New.
   • Enter the required information and click Save.

2. Connect the currency to a market:

   • Go to Settings > Markets.
   • Find the market you want to link the new currency to.
   • In the currency dropdown, select the new currency and click Save.
3. Enable the currency to a product
   • Manually under the Prices tab for each product.
     
     To enable to see the currency under the prices tab on a product you need to save the product first. This is because the new currency needs to be calculated based on the default price upon saving first. After saving, the new currency will appear in the prices list.
     
     
   • Or via the Import Tool for batch updates.
     
     To add the new currency to multiple products via the import tool, 
     
     • Do a product import, with the import/update mode.
     • Map the colums ID, name, Price (where the price is the current price )
     • Start import to update the products 
   
   
   

Rate change

1. Update the rate: Enter the desired rate in the Rate field and click Save.

2. Impact on pricing: Changing the rate will affect future orders, but it won’t automatically update existing product prices in the Merchant Center.

3. Apply the new Rate to product prices: To enable the new rate under the prices tab on a product you need to save the product first (same as when adding a new currency) This recalculates the price based on the new rate.

   For more details, see step 3 above on how to update prices manually or via the import tool.