What does CURRENCYRATE return in Salesforce?

It returns the conversion rate of the given currency relative to the corporate currency, as entered in Setup under Manage Currencies. With USD as corporate currency and 1 USD = 83.13 INR, CURRENCYRATE("INR") returns 83.13. The corporate currency itself returns 1.

How do I convert an amount to the corporate currency with CURRENCYRATE?

Divide by the rate of the record's currency: Amount / CURRENCYRATE(TEXT(CurrencyIsoCode)). To convert from the corporate currency to another currency, multiply instead: Amount * CURRENCYRATE("EUR").

Why does CURRENCYRATE always return 1?

Either the ISO code is invalid or misspelled, or the org does not have multi-currency enabled. In my test in a single-currency org, CURRENCYRATE returned 1 for EUR, USD and the invalid code XYZ.

Does CURRENCYRATE use dated exchange rates?

No. It always uses the static rate from Manage Currencies, even when Advanced Currency Management and dated exchange rates are enabled.

How do I use CurrencyIsoCode in a formula?

CurrencyIsoCode is a picklist, so wrap it in TEXT(): CURRENCYRATE(TEXT(CurrencyIsoCode)) returns the rate of the record's own currency.

CURRENCYRATE Function in Salesforce: Syntax & Examples

The CURRENCYRATE function in Salesforce returns the conversion rate from your corporate currency to the currency you name with its ISO code, for example CURRENCYRATE("EUR"). Multiply an amount in the corporate currency by it to convert the amount, and expect 1.0 when the code is invalid or the org doesn’t use multiple currencies.

I tested the function in a Salesforce Developer Edition org that has a single currency (INR), which shows a case most articles skip, and I explain how the result changes once multi-currency is on. You will also find the correct way to convert in both directions and the dated exchange rate limitation.

This Tutorial Covers: