Hello Magento Friends,
Welcome to Magento Tutorials by MageComp. Today let’s learn about How to Configure Currency in Magento 2.
With the rapid growth of E-commerce, it is essential for store owners to look upon customer satisfaction. With Magento, the store owners possess the ability to accept currencies from 200 countries around the world. Before setting up the currency rates, it is necessary to determine the scope of the base currency. Moreover, the store owners can also configure which currencies to accept and which currency to be used to display the prices of the store products.
Integrate GeoIP Currency Switcher for your Magento 2 store that can automatically switch the default currency of the store to the local currency based on the visitor’s location.
So let us find out the thorough steps to Configure Currency in Magento 2.
Contents
Steps to Configure Currency in Magento 2:
From the Admin Panel navigate to, Stores > Settings > Configuration
Step 1: Select the Allowed Currencies
- From the left pane expand General and select Currency Setup.
- Enlarge the Currency Options section.
- Base Currency – Select the base currency that will be used for the online transactions.
- Default Display Currency – Set the currency that will be used to display pricing in your Magento 2 store.
- Allowed Currencies – Select the currencies that will be accepted for the payment. Make sure to select your base currency as well. For multiple selections press the Ctrl key (PC) or the Command key (Mac).
- Next, Save Config.
Step 2: Define the scope of the base currency
- From the left pane expand Catalog and select Catalog.
- Enlarge the Price section.
- Catalog Price Scope – Set the scope as Global or Website.
- Then Save Config.
Step 3: Setup Import Connection
- From the left pane expand General and select Currency Setup.
- Enlarge the Fixer.io section.
- API Key – Set the API key for the Fixer.io service.
- Connection Timeout in Seconds – Enter the time after which the connection will timeout.
- Enlarge the Currency Converter API section.
- API Key – Set the API key for the Currency Converter API service.
- Connection Timeout in Seconds – Enter the time after which the connection will timeout.
Step 4: Configure Scheduled Import Settings
- Enlarge the Scheduled Import Settings section.
- Enabled – Set the field to Yes, if you want to automatically update currency rates.
- Service – Select your desired service for currency setup.
- Start Time – Set the time to start the currency update in hours, minutes, and seconds.
- Frequency – Set how often you want to update the currency rates. Daily, Weekly, or Monthly.
- Error Email Recipient – Enter the email of the recipient who will be receiving the notification if any error occurs during the import process. You can add multiple email addresses separated by a comma.
- Error Email Sender – Set the name of the sender for the Error Email.
- Error Email Template – Set the template of the Error Email.
When done, Save Config.
Step 5: Upgrade Currency Rates
Before moving ahead, make sure you update the currency rates. Currency rates can be updated by 2 methods – manually or import into the store. Let’s see how both the method works.
Update Currency Rates Manually
- From the Admin Panel, navigate to Stores > Currency > Currency Rates.
- Click the rate you want to update and enter the new value for each supported currency.
- Then, click Save Currency Rates.
Import Currency Rates
- From the Admin Panel, navigate to Stores > Currency > Currency Rates.
- Select the Import Service and click Import.
- The currency rates will be updated in the list. Then click Save Currency Rates.
Step 6: Change Surrency Symbols
- From the Admin Panel, navigate to Stores > Currency > Currency Symbols.
- Modify the currency symbol and Save Currency Symbols.
Final Say:
Hopefully, all are able to configure currency in Magento 2. In case of difficulty, reach me via the comment section. Help other Magento merchants by sharing the article with them and via your social media accounts. Stay tuned with us!
Happy Reading!
