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Currencies

In case your organization sells products or provides services to customer from different countries, you can add those currencies and exchange rates you deal with, to your Zoho Invoice account.


Adding New Currency

To add a new currency, follow these steps:

Add new currency


Edit Currency

You can edit the currency symbol and their decimal places. Here’s how:

Note: You can either click the currency or select edit option to the right of the currency.

Edit Currency


Exchange Rates in the Oman

Transactions in foreign currencies need to be converted into the base currency (OMR) in Zoho Invoice for the purpose of invoicing.

As per the VAT Law, you need to use the exchange rates provided by the Central Bank of Oman website. Different days could have different exchange rates.

To get the exchange rates for any particular day, you would have to:

These rates in the website are updated from Monday to Friday at the Oman local time 6 PM. If the specific market is closed due to a local holiday, the exchange rate on the previous day (updated at 6PM) is taken into account.

You can also view a consolidated list of all the exchange rates for all the days in a month in the PDF or XLS format. Here’s how:


Adding Exchange Rates

As per the VAT Law, exchange rates need to be calculated based on rates given in the Central Bank of Oman website. These rates will help in accurate calculation of currency gain or loss.

You can manually update the exchange rates for the currencies in Zoho Invoice. Here’s how:

Note: You can either click the currency or select edit option to the right of the currency.


View Exchange Rates

To view a list of past exchange rates entered for a specific currency, click on the Gear Icon found on the top right hand side corner of the screen and click on More Settings. Click on Currencies. Scroll over the desired currency row and click on the view exchange rates button that appears.

This can be a good synopsis on the exchange rate fluctuations. You can also add a new exchange rate or delete an existing rate from this page as well.

View Exchange rates

Insight: You cannot delete your base currency. You can change your base currency only if there are no transactions in your Zoho Invoice account.


Importing Exchange Rates

You can also import exchange rate instead of manually entering them. To import exchange rates, click on the Gear Icon found on the top right hand side corner of the screen and click on More Settings. Click on Currencies. Simply click on the Import Exchange Rates button provided on the top right hand side of the currencies screen and select a valid CSV or a TSV file to import it.

To import your Exchange Rates CSV or TSV file follow these steps.

Exchange rates - Select file Exchange rates - Select file

Exchange rates - Map field

Currency - Import preview

Insight: You have the option to download a sample file to compare it to the file you are importing to ensure that the import is quick and efficient. Click Sample file to download it to your computer.


Exporting Exchange Rate

To export Exchange Rate, click on the Gear Icon found on the top right hand side corner of the screen and click on More Settings. Click on Currencies and click on the Export Ex. Rates As button provided on the top right hand side of currencies screen, select from either CSV or XLS file format. Select a location on your computer to save the file.

Currency - Export


Disabling Exchange Rate Feeds

As per the VAT Law, exchange rates need to be calculated based on rates given in the Central Bank of Oman website.

By default, exchange rate feeds are enabled for organizations created before September 15, 2018. To disable the exchange rate feeds for these organizations:

Note: You will not be able to enable exchange rates for VAT enabled organizations.


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