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I have searched through the forums for answer to this question but i haven’t found a satisfactory answer yet.
I know that Magento support multiple currencies but does it support manual entry of price in each currency? Lets say I want to sell products in US and CAD dollars keeping CAD as my primary currency. I don’t want the price in USD to get updated automatically based on some feed from currency exchange instead admin should have ability to manually enter prices both in CAD and USD. Is it possible?
Yes, you can manage the currency rates manually.
If you want the automatic import of rates, you need to go to System -> Configuration -> Currency setup.
Then, set Enabled to Yes or No into the Scheduled Import Setting fieldset.