What do we need for multiple currency?

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hswong3i's picture
Posted by hswong3i on July 14, 2006 at 7:06pm

Drupal E-Commerce module currently support for single currency only. This means all of your products can only base on a signle currency format, within DB, for customer browsing, for transaction, and also for accounting. This will be a trouble, if you hope to setup an auction system as like as eBay, or even simply hope to use Paypal module in where local currency is not support. The need of multiple currency supporting is clear.

By the way it is also a complex problem (from http://www.xencraft.com/resources/multi-currency.html) :

when redesigning the software to accommodate different or multiple currencies, the designer should be careful as to which aspects are determined either by user preference (which may in turn be indicated by locale), by regulation, by the nature of the application, or perhaps by other factors. The appropriate determining value(s) will need to be a part of the API.

Here are my suggestions:

  1. Support difference display currency format, according to user perference. Currencly I have an implementation of this in here (it is now using in my site):
    http://drupal.org/node/72068
  2. Automatic update and caching of difference currency exchange rate. Above implementation contain a demo version about this (only one-to-many, not many-to-many)
  3. Support multiple base currency format for individual product. eBay auction system can be a good example: each user can post their product in difference base currency, and finally translate into customer perfered format.
  4. Support multiple bank accounts. So transaction can be group up to difference account, due to their base currency format.
  5. A complete default format listing for difference currency, where also allow admin to customize it. MS WIN XP "Regional and Language Options" can be a good example.

What is your need about multiple currency? Any else suggestion about this topic? Or any advise from accounting professional? I hope to take some effort about this, but this will need your help, too ;-)

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Comments

new implementation: ecurrency.module for Drupal E-Commerce

Posted by hswong3i on July 24, 2006 at 4:46am
hswong3i's picture

detail in #75194

the target of this module is not only trying to replace the default currency formatting of e-comm which provide by payment.module, but a complete feather for handling multiple currency management. i chose osCommerce as clone target.

currenct functions of this module:

  1. add multiple currency support to e-comm: provide a function function ecurrency_format($from, $to, $price) for formatting the price, according to the given base currency and display currency, with foregin exchange rate applied. other module can apply this function rather then payment_format(). this will be useful for both single/multiple base currency case: store with only one base currency (e.g. implementation of osCommerce), or difference base currency for individual product (e.g. eBay auction system)
  2. admin can add as many as currency format they need
  3. exchange rate can be handle manually or update by using currency_api.module
  4. update by using currency_api.module can be handle manully or by cron

coming on targets:

  1. a block for customer to change their currency display format on the fly, although they are anonymous user, as like as what osCommerce provided. i have try to implement this before in #72068, but this will not be function if drupal cache is on. that needs more work ;-)
  2. change back to base currency when check out (implementation of osCommerce). i found that it is a good idea for accounting: maintain the book clean in one currency format. this will work for single base currency store (multiple product + single currency = base currency check out) or eBay like auction system (single product + product individual currency = product base currency checkout). this will need work within other module (hack), may be after this module (the api) is totally function ;-)

Regards,
Edison

Edison Wong
CEO, Co-founder
PantaRei Design Limited

Currency rates

Posted by gini007 on November 20, 2007 at 10:13pm
gini007's picture

The exchange rates can be updated automatically or only manually?I suggest Learn to Trade Forex for more updates

multicurrency

Posted by markivbagav on November 10, 2011 at 9:06am
markivbagav's picture

I need Multi-Currency Support for product price including selling and buying process..the currency should change automatically..
please any idea???? :)
Thanks in advance

This is something which is

Posted by gordon on November 10, 2011 at 9:44am
gordon's picture

This is something which is extremely difficult. I have made a start on this for e-Commerce but there is a lot more that needs to be done.

Basically there is 2 methods of providing multi-currency,

  1. Display only - having prices display in other currencies by ultimately charging in a single currency.
  2. Full multi-currency support. This not only means displaying product prices in multiple currencies, but also all reports need to be altered to support multi currency, selection of payment gateways need to only display the gateways which support the currency being billed in. (this is done but not really tested) and lot more.

I have a fairly good idea on what needs to be done, but I would really need to consult with an accountant who is intimate with multi currency sales systems and how they should work.

If you want ti discuss this further, then please contact me via my contact page.

Gordon.

--
Gordon Heydon

Dwolla

Posted by mrroboto on June 19, 2012 at 4:36pm
mrroboto's picture

Have you heard of Dwolla, I think they might be able to help you

http://forexsignalsguru.com

e-Commerce Module

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