Hi Tengiz,
The automatic currency-conversion feature is not yet implemented in Mifos.
Mifos allows you to open accounts in difference currencies. However, currency
used for transaction would need to be the same as the currency in which the
account was opened.
A spec for the feature is present at:
https://mifosforge.jira.com/wiki/display/MIFOSX/Cross-Currency+Transactions
But development of this feature has not been planned yet.
Thanks
Binny
From: Tengiz Merabishvili [mailto:[email protected]]
Sent: 26 September 2014 13:15
To: [email protected]; [email protected]
Cc: Vishwas Babu; Binny Gopinath
Subject: [Mifos-users] Currency Conversion
Hello, I have a question about national currency and currency conversion.
How does the currency effect the accounting in Mifos X? For example if the loan
is disbursed in US dollars on 10th of September and I want to convert it in
local currency at the end of the month for accounting, how will it be converted
from US dollar to local currency and will it be able to do accounting only in
local currency? also will the conversion be by the exchange rate of 10
September or when the report is generated?
Also, where can I see the currency exchange rates?
Thanks.
Best Regards,
Tengiz Merabishvili
FINA Ltd | ORACLE Gold Partner
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