This feature requires the Foreign Currency Codes function to be Active.
Foreign currency codes enable you to define and manage exchange rates for foreign currencies accepted and sold at your property. With the multi-currency rate parameter active, properties can configure rates and package prices in foreign currency amounts.
When setting up foreign currencies, follow these steps:
Create currency codes representing the various foreign currencies.
Set actual exchange rates for the codes created in step 1.
Each currency code can have up to seven different exchange rates based on various exchange types (purposes). The following exchange types are available:
Exchange Cash
Exchange Check
Settlement
Posting
Commission
Membership
Certificate
Each currency code and exchange type combination can have its own exchange rate and start date. For example, for each currency, you could define one exchange rate for posting accommodation, another exchange rate for settlements, and another exchange rate for cash exchanges. Then, you could update the accommodations posting rate monthly and update the settlement and cash exchange rates daily.
OPERA Cloud accommodates both buying foreign currency (the usual transaction where the guest exchanges foreign currency for local currency) and selling foreign currency (exchanging local currency for foreign currency). When you configure currency codes, you can indicate whether selling that currency is supported.