Do you have your store website active in multiple countries? Do you want to set your Magento ecommerce store to accept payments in different currencies? Magento 2 supports currencies from over 200 countries.
If you’ve multiple currencies set on your Magento ecommerce store, your customers are displayed a Currency Chooser. Product price on your store is displayed along with currency symbol. Documents like orders and invoices also make use of currency symbols.
Not only is it necessary to configure currency settings properly on your store, it is also important to update currency rates. You need to make sure that the currency rates are updated so that you don’t lose profit margin due to currency rate fluctuations.
We have created a three-part tutorial series on how to setup currency in your Magento 2 store.
This is the first part of the tutorial series, where you’ll learn how to:
Configuring Currency Settings in Magento 2
Step 1: Go to Stores => Configurations (under Settings)
Step 2: Click on the Currency Setup tab in General configuration settings from the left sidebar.
Step 3: Expand the Currency Options section and configure the following settings:
- Base Currency: Select which currency you want to use for payment transactions in your store. The scope of this setting is set at “Website”, which means this currency setting will be used for all payment transactions.
- Default Display Currency: Select which currency you want to be displayed on your storefront.
- Allowed Currencies: Select, in which currencies, you want to accept payment in your store.
Step 4: Click on Save Config to save the currency options.
You’ll be prompted to refresh invalidated cache types.
Step 5: Click on the Cache Management button in the popup message and follow these steps.
Your currency settings are now applied to your store.
It might be possible that you’ve got multiple store views for your website. You can set different base currencies for different store views using the Store View drop-down list just below the Configuration page heading.
Setting Scope of the Base Currency
To setup scope of the base currency, click on the Catalog tab from left sidebar on your Configuration page.
Select the Catalog option and expand the Price section.
Set the scope of your base currency to “Global” or “Website” using the Catalog Price Scope drop-down list.
This concludes our tutorial on how to configure currency settings in Magento 2.