{"id":809,"date":"2012-10-16T09:01:11","date_gmt":"2012-10-16T09:01:11","guid":{"rendered":"http:\/\/www.microsofttraining.net\/b\/exceltraining\/?p=809"},"modified":"2023-12-30T23:12:49","modified_gmt":"2023-12-30T23:12:49","slug":"converting-currency-with-excel","status":"publish","type":"post","link":"https:\/\/www.stl-training.co.uk\/b\/converting-currency-with-excel\/","title":{"rendered":"Converting currency with Excel"},"content":{"rendered":"<p>If you are planning a budget for a trip involving two different currencies, fluctuations in conversion rates can create more work for you. \u00a0The solution is to use a formula that automatically updates all the results if the conversion rate changes.<\/p>\n<p>At the top of my worksheet, I have added a currency conversion rate. I know that today my \u00a31 buys me\u00a0\u20ac1.24.<\/p>\n<blockquote><p>Tip: to add the \u20ac symbol, hold down the the ALT Gr button, located on the right of the space bar, and press 4. \u00a0This will add your euro symbol<\/p><\/blockquote>\n<p>I now type in the details of my budget, and then calculate the total cost from pounds to euros using the conversion rate at the top of my worksheet.<\/p>\n<p>The trick is to use the &#8216;$&#8217; symbol in the formula, on the cell reference containing the conversion rate. This is known as an <a title=\"Excel absolute references article\" href=\"https:\/\/www.stl-training.co.uk\/article-471-employing-cell-references-in-excel.html\">absolute reference<\/a>.<\/p>\n<blockquote><p>Tip: Use format painter to copy the euro formatting in B2 into the columns with euro costs. \u00a0Click on B2 then click and drag over the cells you want to apply the format to.<\/p><\/blockquote>\n<p>So my worksheet will look like this:.<\/p>\n<figure id=\"attachment_811\" aria-describedby=\"caption-attachment-811\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/currency-conversion-excel-training.png\"><img decoding=\"async\" class=\"size-medium wp-image-811\" src=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/currency-conversion-excel-training-300x136.png\" alt=\"currency-conversion-excel-training\" width=\"300\" height=\"136\" \/><\/a><figcaption id=\"caption-attachment-811\" class=\"wp-caption-text\">The conversion rate formula uses today&#8217;s rate of 1.24 Euros, in Cell B2. If the conversion rate changes, I can amend B2 and the formulas in column F will automatically update.<\/figcaption><\/figure>\n<p>Later in the week, the conversion rate changes to\u00a0\u20ac1.35. \u00a0I don&#8217;t have to manually adjust all the figures in the Total cost in \u00a3 in column F &#8211; I update cell B2 with the new rate and all the figures in column F will be updated automatically.<\/p>\n<figure id=\"attachment_813\" aria-describedby=\"caption-attachment-813\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/formula-excel-training-conversion.png\"><img decoding=\"async\" class=\"size-medium wp-image-813\" src=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/formula-excel-training-conversion-300x77.png\" alt=\"formula-excel-training-conversion\" width=\"300\" height=\"77\" \/><\/a><figcaption id=\"caption-attachment-813\" class=\"wp-caption-text\">The formula view of the conversion rate and total cost in \u00a3s<\/figcaption><\/figure>\n<p>So all my figures are updated and my budget now looks like this:<\/p>\n<figure id=\"attachment_812\" aria-describedby=\"caption-attachment-812\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/Conversion-rate-change-excel-training.png\"><img decoding=\"async\" class=\"size-medium wp-image-812\" src=\"https:\/\/www.stl-training.co.uk\/b\/exceltraining\/files\/2012\/10\/Conversion-rate-change-excel-training-300x126.png\" alt=\"Conversion-rate-change-excel-training\" width=\"300\" height=\"126\" \/><\/a><figcaption id=\"caption-attachment-812\" class=\"wp-caption-text\">The exchange rate change has been applied to B2 and the budget in \u00a3s has now been automatically updated.<\/figcaption><\/figure>\n<p>I find that my formula today is\u00a0<strong>Excel + training<\/strong> = useful skills!<\/p>\n<p>This is a simple formula with a practical application and it save time as you update one cell for an impact on many calculations. \u00a0To build on your understanding and use of formulas at all levels of Excel , have a look at\u00a0<a href=\"https:\/\/www.stl-training.co.uk\/microsoft\/excel-training-london.php\">https:\/\/www.stl-training.co.uk\/microsoft\/excel-training-london.php<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are planning a budget for a trip involving two different currencies, fluctuations in conversion rates can create more work for you. \u00a0The solution is to use a formula that automatically updates all the results if the conversion rate changes. At the top of my worksheet, I have added a currency conversion rate. I [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[198],"class_list":["post-809","post","type-post","status-publish","format-standard","hentry","category-excel-training","tag-excel-financial-training"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/posts\/809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/comments?post=809"}],"version-history":[{"count":1,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/posts\/809\/revisions"}],"predecessor-version":[{"id":6754,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/posts\/809\/revisions\/6754"}],"wp:attachment":[{"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/media?parent=809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/categories?post=809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stl-training.co.uk\/b\/wp-json\/wp\/v2\/tags?post=809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}