Enable Salesforce Multi-Currency Feature
Warning - When you have activated the Salesforce multi-currency, you CANNOT deactivate it. It is recommended to test this feature in a trial/DEV org, or a sandbox before activation.
Execute the following to turn on the Multi-Currency feature.
Confirm Authority - The person requesting multi-currency must have the required authority to enable multi-currency and has considered the implications of enabling multi-currency. See Salesforce Help to read about important considerations for enabling multi-currency.
All relevant pages and reports must be reviewed to ensure that calculation is done on the fields having the same currency.
For example, you cannot add the sum of a USD amount and a EURO amount to get the total amount of sales.
Enable Multi-Currency - Navigate to Setup > Company Settings > Company Information > Edit.
Enable Multi-Currency Settings - Ensure that your selected currency locale is the default currency to be used for current and future records.
Confirm that you have enabled Advanced Currency Management.
Navigate to Setup > Settings > Company Settings > Manage Currencies.
Click Enable in Advanced Currency Management.
Confirm that you have disabled Parenthetical Currency Conversion.
Navigate to Setup > Settings > Company Settings > Manage Currencies.
Click Disable in Parenthetical Currency Conversion.
The following appears after you have executed the steps.
Configure the required currencies and exchange rates in the Dated exchange rates table.
Execute the following to Add Currencies:
Login to Salesforce and navigate to Setup, and then navigate to Manage Currencies.
Select Company Settings (Company Profile in Classic Interface), and then click Manage Currencies.
Click New to add each currency used by your business.
Execute the following to Add Exchange Rates:
After configuring the currencies, navigate to the Manage Currencies page and click Manage Dated Exchange Rates.
You can manually enter the exchange rates for each currency that is configured. Click New Exchange Rates and enter the current rates.
Notes
You can use Google to search for the current exchange rate for the currencies used and enter the details for the respective currency, or you can enter any number and remember to edit it later (see Step b for details).
The corporate currency checkbox can be used in other areas of the Salesforce application. You can periodically update your exchange rates for a specific date.
The exchange rates provided will be active for the entire period until they are updated.
For example, if exchange rates are provided on October 25th, updated on November 5th, and billing is processed on October 31st, then the associated exchange rate for the billing done on October 31st will be the rate that was provided on October 25th in the Manage Dated Exchange Rates list.
If you do not want to manually update the exchange rates, there are three apps on AppExchange that update currencies automatically. These are Currency Updater, Global Currency Updater, and Currencies on Demand.