Forum Discussion

EHEH's avatar
EHEH
Qrew Cadet
7 years ago

Convert currencies to USD using today's exchange rate

Is it possible in QuickBase to convert different currencies to USD using today's exchange rate?

I have a field where users enter costs in different currencies, but want these costs to be converted to USD so i can compare costs. 

I know i can do that by create another numeric field and set us a formula with another text field contains all the currencies and then identify all the foreign currencies values against USD, but this needs to be updated regularly as the exchange rates change. Any function in QB to resolve this and convert currencies to USD based on today's rate. 

3 Replies

Replies have been turned off for this discussion
  • I have a similar problem and would love to see a solution.

  • Denin's avatar
    Denin
    Qrew Officer

    I do something similar in an app. You need to have a source for the rates and use a Pipeline to send that information from the source via their API to a Quickbase table (each day's rate is a new record in the table). Then you use a formula query to get the latest rate and you can use your subsequent formulas to compare/etc.

  • OK, I have what may be an over simplified and kind of kludge way to do this.  Since we don't need massively up to the minute kind of conversions, I created a table of conversion rates.  The goal is always to end up in US Dollars so the conversion and the rate will be updated once a month.  In the target table, where the user needs the data, I have a field where the User inputs the amount in whatever local currency.  The next field, the user selects the currency and the third field calculates to the dollar  amount.  the user then copies that amount over to the designated field.  If the user does not need to do any conversions, they simply input into this last table the amount in dollars.  this has the advantage of keeping a record of the base currency at the time the record was entered and the amount at the time entered.

    Like I said, it's a kludge, and it's not automated like I want, but it also doesn't require an API to do it since I only have Dollars, British Pounds, and Euros to deal with.  I guess this is the bone simple way to handle something like this