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# HOW TO CALCULATE EXCHANGE RATES IN MICROSOFT ACCESS

Hi,
Let me preface my query by saying I am an MS ACCESS Novice.  I see that most people provide just sql code for answers on here.  I need to understand my solution conceptually first so I would appreciate a very laymen's explanation.

I have a database which tracks costs across several countries.  These costs are inputted by the users in local currency, so British Pounds, Polish Zloty, Danish Krone, etc...

I need to convert these costs into Euros.  I am aware the solution involves creating a table with the Euro/Local exchange rates and querying the data entry table with the exchange rate table to get the conversion.  I have my table with exchange rates but cannot get further than that.

All help is very much appreciated.

Regards,

MIchael
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mcolligan1
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1 Solution

Commented:
How do you identify the 'local' currency?
Is it a field in the cost record?
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Commented:
Firstly, ensure you data structure is appropriate.

I would expect that the table where costs are stores will have the cost in local currency and a field that indicates what currency that cost is

The Currency table needs to have that same currency indicator field, and a value for that currency of 1 and a coilumn to indicate what Euro value 1 of the cost currency is equal to.

You have not indicated how you will deal with fluctuating currency rates.

Assuming we ignore the fluctuations, yo can now create a query that uses both tables and links the two on the currency indicator
Create a field in that query that is Costs*EuroValue - this is the value in Euros. Add in any other fields that you want.

This is the real simple start - you then need to work out what you want to do with this result.

Kelvin
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Author Commented:
Hi
The costs are directly input in a field in my Cost Table.

The only indicator I have included determining local currency is another field called Country, i.e., UK, Denmark, etc...My currency table has same indicator field.

I have dealt with fluctuating forex by linking an excel sheet using the Microsoft Live FOREX feed function.  So, before I open the access database I have to update the excel sheet.

This is all I need as I am calculating costs / per square foot.  It's  benchmarking database that provides me with various costs across EU, i.e, janitorial, maintenance, security, etc...
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Commented:
Ok, create the query as per my post above, linking country in costs and currency tables

Kelvin
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Commented:
Currency exchange is an extremely dynamic set of variables.  Less than an hour after you start using your table, an exchange rate somewhere can change by a percent or more - which means it is obsolete shortly after you start using it.  That said, I wondering why someone on the west coast wants to convert international currencies into EUR and not USD or CAD - school work perhaps?

http://www.ratesfx.com/rates/rate-converter.html  -  provides an up-to-date currency conversion tool.  From that source at this time 1 Danish Krone or DKK = 0.13 EUR.  What don't you under stand about how many Euro is 19.95 DKK?
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Author Commented:
GRAYL,

Not sure what the intention of your post was (?).  I know currencies fluctuate as I have to develop outsourced solutions across EMEA.  The purpose of the database is to allow costs to be input in local, convert to euro and provide euro/psm benchmarking.

Regards,

Michael
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Commented:
I'm in LA (lower Alabama) and have tons of EMEA and SAP (South Asia Pacific) currency conversions going on and its not all to/from USD. We deal in 28 currencies.

I think that GrayL thought that this possibly was a school project
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Commented:
But I do know LA is not lower Alabama ;-)
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Commented:
Everybody jokingly says its LA (meaning lower Alabama) but its actually upper Alabama, 75 miles south of Chattanooga TN...
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Author Commented:
When you work with Real Estate square feet and USD are the accepted standards of working, hence, the USD.

Mike
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