Update currency

[neit]

I don't know if other people are having this issue or not
but when I update my currency they appear to be different
from oanda and xe. This is happening in both version
1.3.8a and 1.3.9b.

I am only selling in euro and GBP

Example after an update:

Version 1.3.8a
EUR 1.23426449
GBP 1.00000000
Xe currently has 1 GBP = 1.17483 EURO

Version 1.3.9b
EUR 1.23584998
GBP 1.00000000
oanda currently has 1 GBP = 1.1752 Euro

[DrByte]

1. XE and Oanda are reporting numbers according to *their* calculations. There is no reason to expect them to match each other.
2. The rates they quote you are VERY UNLIKELY to be the same rates *you* get at your bank.
2. The value in your store is being inflated to accommodate the surcharge levied by your bank. You can change that by editing the Currency Uplift value under Admin->Configuration->My Store.

[neit]

thankyou.
I was not expecting xe and oanda to be identical I just expected
them to similar.

But I will need to look into the surcharge issues.

neit

[Scott_C]

As Dr Byte mentions, the Currency Conversion Ratio (ccr) under Config> My Store is set to 1.05 by default.

Many currency exchange sites quote exchange rates suitable to big business, but not so good for the small store owner dealing in much lower amounts.

The ccr will help pad out the exchange rate so that you dont loose to much in the bank fees etc for a small order.