Introduction

We are aware of how important is for you to ensure everything is accurately set up in your store before you start selling online. Therefore, in this tutorial, we will review the currency options for your Magento Store. We will take a close look at each of the settings and guide you on how to properly configure your preferences.

Getting Started

In order to being, please log in to your Magento Admin Dashboard and navigate through the left menu bar to Stores > Configuration.

Once you access the “Configuration” page, please switch to the “Currency Setup” section under the “General” tab.

Now that you are in the right place, we are ready to begin. 

Currency Options

Let’s start by expanding the first “Currency Options” subsection. Please, click on it in order to see the available settings under it.

As you will notice all the settings are pretty straight to the point, but let’s say a few words in order to make sure everything is crystal clear.

• Base Currency - From this dropdown menu you will have to select the main currency for all online payment transactions on your Online Store.
• Default Display Currency - From this dropdown menu you will need to select the currency which will be displayed on your store’s frontend. In most cases that will be the same as your ”Base Currency”, but in some specific circumstances, you might want the currency displayed on your store to be different than your default currency in order to avoid possible customer confusion.
• Allow currencies - From this list, you can select additional currencies that you would like to include in your store for payment transactions, besides your main currency. In order to select them, please hold the “ctrl” key on your keyboard and click on the currencies you wish to enable.

Fixer.io

Please, expand the second “Fixer.io” subsection. “Fixer.io” is a currency converter that you can use to determine your store’s currency rates.

• API Key - Under this field you will need to enter the “API Key” which you can obtain from fixer.io.
• Connection Timeout in Seconds - From this field, you can specify the time limit (in seconds) for sessions with “Foxer.io” before they time out.

Currency Converter API

Please expand the following “Currency Converter API” section. This is another currency exchange service.

Here you will find only the “Connection Timeout in Seconds” setting where you will need to determine the number of seconds of inactivity before the connection times out. 

Scheduled Import Settings

Please, expand the last “Scheduled Import Settings” subsection.

• Enabled - From this setting you can choose whether to enable or disable scheduled imports for currency rates. As you will notice by default they are set to “No”, in case they are needed, please select “Yes” from the dropdown menu.
• Service - From this dropdown menu you can select the service which will be used as a source of information for the currency rate imports.
• Start Time - From this option, you can determine the start time of the imports in an hour, minute, second format based on the 24-hour clock system.
• Frequency - From this option, you can determine how often the imports will be performed. From the dropdown menu, you can choose between “Daily”, “Weekly”, or “Monthly”.
• Error Email Recipients - Under this field you will be able to enter the email address(es) of the recipients who will be notified in an event of an import failure. In case you need to enter multiple addresses, please make sure to separate them with commas (,).
• Error Email Sender - This setting determines the Error email notification store contact sender. By default, it is set to “General contact” - if you need to change it, under the dropdown menu you will be presented with all current store emails.
• Error Email Template - This setting determines the email template send in an event of a failure. By default, it is set to “Currency Update Warrnings”, however from the dropdown menu you can select among the current templates available.

All right, you are all set with your Currency Settings and you are ready to save your changes. Please, click on the “Save Config” button available at the top right end of the page.

Well done! You have your Currency Preferences set up now and you are ready to move forward to configuring the rest of your Magento Online Store’s settings. We hope you have found our guide easy to follow and you managed to successfully configure your settings. In case you experienced any difficulties, please do not hesitate to contact our Support Team.