# Setup - Currencies

PhreeBooks is designed to handle multiple currencies. the US Dollar is the default currency shipped with the standard release.

### Updating the exchange rate

Exchange rates can be updated through two exchange servers, oanda and xe. Oanda is the primary server and xe is the backup server should oanda be down.

1. Select Setup->Currencies.
2. Press the Update Exchange Rate icon, . The exchange rat servers will be queried and the rates updated.

### Adding a Currency

1. Select Setup->Currencies.
2. Press the New icon and a popup will appear.
3. Select the Title of the currency, i.e. US Dollar, Euro, Yen, etc.
4. Enter the ISO code for the currency, USD, EUR, etc.
5. Enter the symbol to use to the left and/or right, $ for USD, € for EUR, etc.
6. Enter the symbol to use for the thousands place and decimal places.
7. Enter the current exchange rate relative to the default currency. Leave the value blank if it will be updated when the exchange rate is updated.
8. If this is to be the default currency, check the Set as Default box.
9. Press the Save icon to save the entry into the database.
10. Press the Update Exchange Rate icon to refresh the current exchange rate with the exchange rate servers.

### Changing the Default Currency

1. Select Setup->Currencies.
2. Press the Edit icon next to the currency to set as default and a popup will appear.
3. Check the Set as Default box.
4. Press the Save icon to save the entry into the database.

### Deleteing a Currency

1. Select Setup->Currencies.
2. Press the Delete icon next to the currency to delete and a confirmation popup will appear.
3. Press OK to confirm the deletion and the currency will be removed from the database.

### Related Links