Glossary
Exchange rate
The exchange rate is how many units of one currency you need to buy one unit of another on a given day.
What it means for a shop owner
It changes from day to day and place to place. Record the rate used for each deal so your figures do not shift later. If the market is jumpy, update the rate regularly.
A worked example
The rate is 1,500 local units to one dollar. A bill of 40 dollars equals 60,000 in local currency.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes