Currencies are the monetary units used to store costs for all projects in the database. Monetary units are stored in the database with a base currency that you select. The base currency is used to display costs in windows and dialog boxes. If you select a different currency than the base currency to view costs, the exchange rate for the base currency is always 1.0. The base currency value is multiplied by the current exchange rate for the view currency to calculate the values displayed in cost fields. For example, if the base currency is U.S. Dollars, the view currency is Euros, and the exchange rate for Euros is .75, a value of 10 dollars is displayed as 7.5 Euros in cost fields for windows and dialog boxes. Similarly, if you enter 7.5 Euros in a cost field, it is stored in the database as 10 dollars.
Admin Superusers and users with the 'Edit Currency' privilege can change the base currency and define additional view currency types. When you enter values in cost and price fields, they are always displayed in the user's view currency.