In practical business, you might need to report more custom events related to monetary values. However, in different regions, the currency types for user payments may vary. Therefore, it is necessary to convert different currencies into a common currency for comprehensive analysis. That is why we have introduced the Foreign Exchange (FX) Rate Property in SolarEngine system.

Create FX Rate Property

       Entry: Select one of the products - Data Management - Metadata - Event Property - Create Property

• FX rate property ID cannot repeat the ID of any other virtual properties.
• Only the specified event(s) will be associated with the current FX rate property.
• After specifying events, you can select the Original Amount Property, meaning the numeric properties from which we can pull the original currency.
• Target Currency
• After you select the target currency, the SE system will automatically convert currencies for you based on the exchange rate of the day.
• In cases where the current exchange rate retrieval is unsuccessful, the nearest available date's exchange rate will be used for calculations.
• If a new currency type is added to the system, the FX rate property for that currency will be available for calculations by the next day.

Calculation Method

       SolarEngine supports two currency exchange methods.

1. Calculated by Dynamic Currency

       When multiple currency types are associated with the same event, it is possible to specify a property that represents the original currency type for this particular event, enabling the conversion of multiple currencies within the same event into a single currency.

       The dynamic currency property values ​​must comply with the 'ISO 4217 International Standard,' such as CNY, USD. If they do not comply or have no value, the target value of this event will be treated as 0.

2. Calculated by Fixed Currency

       If you want to convert the payment amount in an event to a specified currency, you can choose a fixed original currency type.

The Application of FX Rate Properties

Same as the application of virtual properties.