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 <?xml version="1.0" encoding="UTF-8"?>
 <chapter id="details.currencies">
 <chapterinfo>
   <authorgroup>
     <author> &Thomas.Baumgart; &Thomas.Baumgart.mail; </author>
     <author>&Michael.Carpino; &Michael.Carpino.mail;</author>
     <author>&Jack.H.Ostroff; &Jack.H.Ostroff.mail;</author>
   </authorgroup>
   <date>2022-08-08</date>
   <releaseinfo>5.1.3</releaseinfo>
 </chapterinfo>
 
 <title>Currencies</title>
 
 <para>
   &kmymoney; supports the use of multiple currencies in different accounts. For
   example, you can set up a bank account in Euros, another in British Pounds, and
   still have your credit card account in US Dollars.
 </para>
 
 <sect1 id="details.currencies.basecurrency">
 <title>Base currency</title>
 
 <para>
   During the initial &kmymoney; <link linkend="firsttime.3">New File
   Setup</link>, you will be asked to select the base currency.  Usually, the
   base currency is the currency you use in your country.  The base currency is
   the one that will be used as the default for all new accounts and categories,
   and that reports will be based on.  When you set up a new account or category,
   &kmymoney; will automatically default to the base currency.  If your account
   requires you to use a different currency, you can change it during the <link
   linkend="details.accounts.create">New Account Setup.</link>
 </para>
 
 <para>
         <screenshot>
         <screeninfo>The select currency dialog</screeninfo>
         <mediaobject>
         <imageobject>
         <imagedata fileref="select_currency.png" format="PNG" />
         </imageobject>
         <textobject>
         <phrase>select currency</phrase>
         </textobject>
         </mediaobject>
         </screenshot>
 </para>
 
 <sect2 id="details.currencies.newcurrency">
 <title>Adding a new currency</title>
 
 <para>
   Although it does not happen often, sometimes a new currency is introduced.
   This can be a new virtual currency, such as Bitcoin, or a change introduced by
   a country for financial policy reasons.  While any such currency will be added
   to the next version of &kmymoney; it is possible to add it manually, in case
   you have a need to begin using it immediately.
 </para>
 
 <para>
   To manually add a currency, select the
   <menuchoice><guimenu>Tools</guimenu><guimenuitem>Currencies...</guimenuitem></menuchoice>
   menu item to display the <guilabel>Currencies</guilabel> dialog, as shown
   above. Either click on the <guibutton>+ Add</guibutton> button or right click
   on any existing currency and select <guimenuitem>New currency</guimenuitem>
   from the <guimenu>Currency Options</guimenu> context menu.  That will bring up
   a dialog where you can enter the ISO Code, Name, and other details about the
   currency.  When you are ready, click <guilabel>OK</guilabel>.  The currency
   will be created with the specified name.  To change the name or other details
   later, click the <guibutton>Edit</guibutton> button.  You can also change the
   name by either pressing <keycap>F2</keycap> or right clicking the currency and
   selecting <guimenuitem>Rename currency</guimenuitem>.
 </para>
 </sect2>
 </sect1>
 
 <sect1 id="details.currencies.accountsetup">
 <title>Account setup</title>
 
 <para>
   When you create a new account, you specify the currency in which it will be
   managed.  The New Account wizard defaults this setting to the <link
   linkend="details.currencies.basecurrency">base currency</link>.  If you
   require a different currency, you need to select it during this initial setup.
   The ledger for the account will then show all values in the selected currency.
   You cannot change the currency of an account once the account has been
   created.
 </para>
 </sect1>
 
 <sect1 id="details.currencies.transactions">
 <title>Entering transactions using different currencies</title>
 
 <para>
   Whenever a transaction is entered that refers to more than one currency, which
   includes using a currency other than the default currency of the account, the
   exchange rate editor pops up and allows you to enter an exchange rate to be
   used for that transaction.  Initially, the current price available from the
   price database will be used as exchange rate.  See <link
   linkend="details.currencies.prices">Entering exchange rates for
   currencies</link> for more information on how to provide exchange rates
   manually and obtain online price information.
 </para>
 
 <para>
   Optionally, the exchange rate is saved in the price database once entered by
   the user.
 </para>
 </sect1>
 
 <sect1 id="details.currencies.prices">
 <title>Exchange rates for currencies</title>
 
 <sect2>
 <title>Entering prices manually</title>
 
 <para>
   The <guilabel>Price Editor</guilabel> allows you to enter exchange rates
   between currencies or prices for investments.  You can pull it up using the
   <menuchoice><guimenu>Tools</guimenu><guimenuitem>Prices...</guimenuitem></menuchoice>
   menu item.
 </para>
 
 <para>
         <screenshot>
         <mediaobject>
         <imageobject>
         <imagedata fileref="currency_priceeditor.png" format="PNG" />
         </imageobject>
         <textobject>
         <phrase>Currency Price Editor</phrase>
         </textobject>
         </mediaobject>
         </screenshot>
 </para>
 
 <para>
   In &kmymoney; a <quote>Price</quote> is the cost of one currency in terms of a
   second currency.  For example, as I write this, the price of 1 USD in terms of
   1 EUR is 0.83; that is, 1 USD costs 0.83 EUR.  The first currency is the one
   being bought or sold, and the second one is the currency used to buy or sell
   it.
 </para>
 
 <para>
   When you press the <guibutton>New</guibutton> button, you get the
   <guilabel>New Price Entry</guilabel> dialog.  Enter the first currency (USD in
   the example above) in the Security field.  Enter the second currency (EUR in
   the example above) in the Currency field.  Enter the effective date of the
   price in the Date field.
 </para>
 
 <para>
         <screenshot>
         <mediaobject>
         <imageobject>
         <imagedata fileref="currency_newpriceentry.png" format="PNG" />
         </imageobject>
         <textobject>
         <phrase>New Price Entry</phrase>
         </textobject>
         </mediaobject>
         </screenshot>
 </para>
 </sect2>
 
 <sect2>
 <title>Online currency updates</title>
 
 <para>
   &kmymoney; can fetch currency conversions from the web.  Once you have entered
   a single price for a pair of currencies, the online quote feature will always
   list that pair among its options.
 </para>
 
 <para>
   See the section on <link linkend="details.investments.onlinequotes">Online
   Price Quotes</link> in the <guilabel>Investments</guilabel> chapter for more
   details.
 </para>
 </sect2>
 </sect1>
 </chapter>