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Magento Currency Handling
 
srinigenie
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Hi Magento team,

A lot of ecommerce stores that do business in different countries would like to set different prices in different currencies at product level. The current version (Magento ver. 0.8.16100) supports one currency at the store level and not at product level.

For example, a typical situation may be Book A has a price 25$ and Book B has a price 9GBP. The actual store currency is INR. The products are always stored in the afore mentioned currencies and any fluctuation on these currencies affect these products. Hence storing them in INR initially would also not be an alternative :(

This I guess would be a pretty useful feature for Magento.

Thanks,
Srini

 
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mayerwin
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The same for me, this would be really great.
(the problem was raised here initially : http://www.magentocommerce.com/boards/viewreply/13744/)

As I stated before, if this is not straightforward to implement I would be glad to financially sponsor the developement, preferently by the Magento team since it appears more relevant as an integrated feature than as a third party developement.

Thank you, and what you’ve done is already awesome compared to the other platforms.

 
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srinigenie
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Explaning further with an example herewith - I had posted this in the forum thread as well .. thought this might be of some use here as well

Say in January 2008, 1$=40 INR and 1 GBP=65 INR
Prod A is from US and price is 10$ will need to be stored as 400 INR
Prod B is from London and price is 12 GBP will need to be stored as 780INR

in February 2008, if currency rates change as 1$=41INR and 1GBP = 60 INR
Prod A is from US and price is 10$ will need to be updated as 410 INR
Prod B is from London and price is 12 GBP will need to be updated as 720 INR

So you see, it would be better if I had stored the value of the product in its native currency and convert to the current exchange rate whenever a product is queried. I have a product catalog running into lakhs and updating the price of each product whenver the currency exchange rates change is no mean task. I hope you see where I am struck.

 
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mayerwin
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Hey there, for my problem, the solution has been revealed by Michael:

You should be able to change any product attribute to be not globally editable in admin Catalog-> Attributes -> Manage Attributes -> click on the attribute in the grid -> System Properties tab -> change Globally Editable to be ‘No’.

Please let me know if this is the solution for you.

Thank you,
Michael.

Michael, let me know if you have a wishlist, I want to thank you for this. That’s really great. Again, Magento rocks. (Even if I’ll need them to fix this bug http://www.magentocommerce.com/bug-tracking/issue?issue=1291 which is also http://www.magentocommerce.com/bug-tracking/issue?issue=1309 and this one http://www.magentocommerce.com/bug-tracking/issue?issue=1268, before I can go on)

 
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Przemek
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When I go to Catalog -> Attributes -> Manage Attributes and click on the attribute, there is no ‘System Properties’ tab. Thus I still can’t resolve the issue with multiple currencies. The version I’m using is 0.9.17740 beta preview.

 
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gicts
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Hello All,

I have been thinking and perhaps know a solution.
But i am not an PHP-coder, nor do the people in our company know enough about Magento to create this fix.

There should come a property called ‘Currency’ for an product.
This property should utilize the Currencies as available in the System Configuration (System -> General -> Currency Setup)
The list is already available, so are the exchange rates.

Perhaps the magento team can create a quickfix for this?

This would come handy to a lot webshop owners.

Thanks for a possible fix in advance!.

With kind regards,

Martijn Groenleer
Director of Groenleer ICT Services

 
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Lesiu
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srinigenie - 21 February 2008 07:13 PM

So you see, it would be better if I had stored the value of the product in its native currency and convert to the current exchange rate whenever a product is queried. I have a product catalog running into lakhs and updating the price of each product whenver the currency exchange rates change is no mean task. I hope you see where I am struck.

So is this feature still unavailable? I need to have some products prices in PLN and some in EUR and all of them calculated and visible in the frontend in PLN currency. I can’t find any solution.

 
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Anna Varmon
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Lesiu, try to create 2 different store / store view and default currency as EUR for the first and PLN for the second.

 
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Lesiu
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Anna, it won’t work. I need 2 different curriencies in one store. I know that I can create 2 different stores with 2 different curriencies but it’s not what I need. I’d like to have one store with two base curriencies at once. For example:
- product one -> in backend 9,50 EUR, in frontend 42,90 PLN
- product two -> in backend 94,50 PLN, in frontend 94,50 PLN

Due to still changing currency rates it would be really usefull function. Now I have to edit prices in my store once a day, at least.

 
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Anna Varmon
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I see.  As far as i understand, the only way to achieve the functionality is to modify getFinalPrice method. By the way, there is an event,

Mage::dispatchEvent('catalog_product_get_final_price', array('product'=>$product));
in app\code\core\Mage\Catalog\Model\Product\Type\Price.php
 
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Lesiu
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But in backend the is no possibility to choose currency while adding or editing product.

 
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Anna Varmon
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If you have prices not only in PLN in front end, you definitely need to customize product editing form. May be add an additional attribute and check it in you custom handler of finalPrice. I believe it’s important feature and Magento team can do smth with it.

 
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Transformer
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wow… having the same problems…

I thought magento would be the thing. apperently not.

I have set up 2 stores and want to display in store 1: EURO and in store 2: CHF.

Made the changes in the shops in locale with the currency and also change the global setting in catalog->price to website.

still not helping. it will only show the currency which is set in global.

this is extremely annoying.

has there still been no fix for this?

appreciate your input.

 
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gicts
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Hello Transformer,

It seems that what you want is possible, as long as the base currency you buy your stuff for is the same.

If you buy all products for euro’s you enter your products in the store with a euro price. The currency converter can calculate that towards CHF.
If you buy product A for x EURO and product B for x CHF than you have the same problem as we do.

 
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Transformer
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Groenleer ICT Services - 29 June 2009 08:45 AM

Hello Transformer,

It seems that what you want is possible, as long as the base currency you buy your stuff for is the same.

If you buy all products for euro’s you enter your products in the store with a euro price. The currency converter can calculate that towards CHF.
If you buy product A for x EURO and product B for x CHF than you have the same problem as we do.

Thanks for this info.

Indeed, purchasing prices are in EUROS for this shop and selling in EUROS and CHF for Germany and Switzerland.

So how would I get this feature activated? Do you have a hint for me? Thanks. Ralph

 
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gicts
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It depends on a few factors.

Either you have a Multiple storeviews (One for Gemany and Switzerland, One for the rest of europe) or you just accept multiple currencies.

When you accept Multiple Currencies:

You will have to enable your currencies under System -> Configuration -> General -> Currency Setup
Make sure you setup your Base Currency (this should be against which currency you buy the most of your products)
The Default Display and the ‘Allowed Currencies’.
Latest is used to determine which currencies are accepterd. You can set this Globaly, Per website, Per store and Per storeview!
Want to know more about these levels read the Magento User Guide.

Don’t forget to setup your cronjobs, otherwise the exchange rates do not get updated!

When you are using multiple storeviews, you can restrict the currencies accepted at this location also.

Magento will execute Exchangerate-conversions as soon as needed by your shop.

This also enables the currency dropdown in your shop if your storeview accepts multiple currencies.

 
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