How to setup Currency Rate when using Multicurrency in QuickBooks

The exchange rate is the value of the foreign currency equals in your home currency. When you have a foreign customer or supplier in your business, you setup an exchange rate for the customer/supplier’s currency whereby the exchange rate will be equivalent equal your home currency.

The following steps show how to setup currency rate.

1) Click ‘List’ from the menu bar and select ‘Currency List’ from the drop down list. 

2) The ‘Currency List’ window.
Double click on the currency you want to set the exchange rate from the currency list. Here, ‘Russian Ruble’ is selected. 

3) The ‘Edit Currency’ window 

A: The Currency name is shown in the box

B: Set the date

C: Enter the exchange rate in the box

D: Click Ok after filling in the necessary information


4) After filling in all the necessary information, the exchange rate and the date appear on the currency list.