Currently currency exchange rate is provided automatically and one cannot change it. Typically one cannot buy other currency at official rate as the agent selling the currency also have some margin so we never buy money with the rate splitwise suggests. My idea is to make possible to specify custom exchange rate
Thanks for the suggestion. Makes sense, sorry it’s not there already. I’m going to leave it open for further voting.
Multiple currencies used within a group should be configurable not only by currency type but also by exchange rate input by the user. One of the currencies needs to be the main/home currency. Following this concept each entered item is denominated in its currency and if not entered in the main/home currency, instantly converted. Both values are then stored, preserving original value and currency and make the process repeatable in case the exchange rate needs to be adjusted. Splitwise please do this first. Else you will see some other app adding this feature and your user base just vanish.
I'd prefer to see a feature where the currency exchange rate used is the one on the day of the entered expense. All this information is available historically online from xe or x-rates, etc.
Axel Suppantschitsch commented
maybe you could check out the app "Share-a-Bill". The app is old and lacks many of Splitwise's advanced functionality, but has this very neat and simple currency conversion functionality.
Axel Suppantschitsch commented
I would like to suggest to extend the currency functionality not only by being able to enter our own exchange rates -as already suggested by others- but to change the whole conversion process from a one way on demand process to an instant conversion process preserving the original amount and currency. The multiple currencies used within a group should be configurable not only by currency type but also by exchange rate. One of the currencies needs to be the main/home currency. Following this concept each entered item is denominated in its currency and if not entered in the main/home currency, instantly converted. Both values are then stored, preserving original value and currency and make the process repeatable in case the exchange rate needs to be adjusted.
Please add a possibility to change Exchange rates for different Currencys in one group
It would be nice if the app could have an additional function in the convert to default currency, where I could input a specific conversion rate (like an average, to keep it simple) instead of using the current one.
It happened to me that the difference between the current exchange rate and the actual exchange payed made a difference of $30.
Philipp M. commented
Yes, please. I'm currently travelling three different countries and it would be great to set an exchange rate.
Allow foreign currency bills to be converted into one currency at settlement. For example, a group went to Japan for holiday and recorded their bills in yen. But when everyone returned Hong Kong, they can only settle in hkd. Suggest to build in a feature which allow inputting exchange rates to covert all balances into the default currency for settlement. Thanks!
Hrishabh Sanghvi commented
Currency rate should be an input and not automatic, since I've converted my currency before the trip at one rate, whose daily changes don't affect me
I love the FX feature online, thank you! I look forward to this coming to the app. I think it'd be great if the app refreshed prices once/twice a day and let you auto-convert to your base currency.
Great app! Keep up the good work!
Jules Colle commented
Agreed, automatic currency conversion was the main reason I purchased Splitwise Pro (and of course also to support your awesome work), but the official exchange rates are pretty useless. After a trip to Thailand my friends owe me around 30000 THB. According to splitwise the exchange rate from THB to EUR is 39.7, while my bank's exchange rate is 37.3. If I convert the amount to Euro using Splitwise they would owe me 755 EUR, while they actually owe me 804 EUR
This would make the function much nicer to use. It would also be cool if the app could tell you what the current exchange rate is.
The other thing is it would be cool if you could choose what currency you wish to settle up in. (ie my default currency is GBP, but would like to settle a Japanese holiday trip in HKD)