Calculating Currencies
Posted: Thu Jan 04, 2007 5:05 pm
Hi,
I am creating a shopping cart, which must support multiple currencies. We've decided to not leech of other websites for the current exchange rates therefore the exchange rates are defined by the admistrators of the website and are fixed.
I need some help calculating currency conversions, I'm not sure if this is right, but if the default currency is GBP, exchange rate 1.00, would the equation be as simple as belowif converting to USD?
USDPrice = GBP_Rate * USD_Rate
(where GBP is the base rate set at 1.00)?
Any help would be appreciated.
Thanks.
Musaffar.
I am creating a shopping cart, which must support multiple currencies. We've decided to not leech of other websites for the current exchange rates therefore the exchange rates are defined by the admistrators of the website and are fixed.
I need some help calculating currency conversions, I'm not sure if this is right, but if the default currency is GBP, exchange rate 1.00, would the equation be as simple as belowif converting to USD?
USDPrice = GBP_Rate * USD_Rate
(where GBP is the base rate set at 1.00)?
Any help would be appreciated.
Thanks.
Musaffar.