# Summary

If you have been enabled for multiple currencies, these can be managed here.

## Setup

GBP (£ Sterling) is the default currency, and that is how all Product prices are managed in the [Inventory](https://bookstack.iconography.co.uk/books/categories/page/inventory "Inventory").

If a customer selects a different currency on your website, then IXO Commerce will automatically convert all prices to that currency based on the exchange rate managed on this page.

<table border="1" id="bkmrk-field-purpose-exchan" style="border-collapse: collapse; width: 100%; border-width: 1px;"><colgroup><col style="width: 49.881%;"></col><col style="width: 49.881%;"></col></colgroup><thead><tr><td>Field</td><td>Purpose</td></tr></thead><tbody><tr><td>Exchange Rate</td><td>*This is the exchange rate used to convert all prices on the website (product/customisations/options)*</td></tr><tr><td>Auto Update</td><td>*If enabled, this will automatically update the exchange rate on a daily basis base on a feed from the European Central Bank, to match the most recent exchange rate*

*This will automate the currency function, and should only be disabled if you need to override these rates*

</td></tr></tbody></table>