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I am going to develop an application which have multi currency support. This application is for personal and for to study MVC. So i am planning to touch all the areas and can work the MVC options for this. The application basically handles my incomes and expenses.

I am planning to implement localization with multi currency support. Generally we have a base for every thing so that the base can be saved to the database. Take an example, For localized application i have stored UTC date in the database and to display i convert to local date.

Likewise which currency i need to save in the database as a base one. I am trying this application in MVC. Please guide me on this

My country is india so is it best to save rupees as a base one. Or i use EURO or USD.

As this is general architectural question, i don't have any code which is tried.

I found one thread about this question and which is here. I got some ideas from that, but not specified any base currency

Community
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Akhil
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2 Answers2

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It's not an easy question to answer as it depends on what type of object that you are using the currency for.

If it's for an invoice or order, use the currency that the customer is going (or have been) charged with.

If it's for a price list and you only can save one currency, use the one that you are familiar with, but do note that you might loose money due to that the real exchange rates differs from the multiplier that you use to calculate what the price would be in other currency.

jgauffin
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  • yes. thanks so from these answers i think better would be saved in home currency ie 'RS.' in my case and convert based on the conversion rate to other currencies where needed – Akhil Jun 03 '14 at 10:56
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Accounting uses two accounts for every transaction: one account which "pays", and one account which "receives". A simple example: I use to calculate in Euros. When I had lunch at a local food stall during holidays in India, the account for food "received" 0.50 EUR, while the account for rupees-cash paid 30 INR (or something like that, I don't remember exact prices). I normally do the convertion when the data are entered. This setup allows for an easy calculation of the currently available money in their respective currencies, and for statistics on consumption in the "home" currency. Note that legal accounting roles may bemoe complicated, but for personal use that should be OK.

Bernhard Hiller
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