Forex

Overview:

New changes in the system will allow you to know the Exchange rate applicable on a daily basis to the products considering the base currency of the account.

For instance, if the account's base currency is set as USD and the Product Price is GBP 10, then the Customer will know the actual amount that he is going to be charged for that day if an order for a specific cross-currency product is placed.

Parameter	Details
Customer Base Currency	USD
Product Name	Starbucks UK
Product Currency	GBP
Product Price	GBP 25
Exchange Rate Date	07-02-2023
Exchange Rate Applied considering customer base currency and Product base currency	1.20
Order amount with one quantity applicable for the customer	USD 30

How this is going to help you?

This will allow you to know the actual value that is being charged as per the base currency set in the account, where there is an exchange rate that is applied for the orders being placed on a daily basis which also includes the orders with cross-currency products. This helps create transparency during the internal audit process.

Daily Exchange Rate Sync-up Details:

• We will be taking the exchange rate information from www.currencylayer.com

• Xoxoday systems will lock the exchange rates on a daily basis at 12:01 GMT +5:30 (06:31 UTC)