Guide to currency settings
Touchstone's currency selection fields are useful for you to understand.
Currency display settings do not affect the underlying data that Touchstone uses to perform analyses. The following table describes how Touchstone uses the fields. See the end of this topic for some considerations to keep in mind.
| Currency Field | Description |
|---|---|
| Log Statistic Currency and Rate field on the Options tab in ImportExpress | Use this field to select the currency and rate that Touchstone uses only when generating summary statistics for the import log file. Touchstone always imports the hard-coded currencies within the import files exactly as coded in the import files. |
| Default currency in ImportExpress field mapping for a policy | Use this field to specify the default currency that Touchstone uses when importing .csv exposure data, if the import data does not identify one or more specific currencies or if you do not map (or Touchstone does not automap) a currency column in your import data. |
| Project Currency field in the Create Project dialog box | Use this field to specify the currency and rate that Touchstone will use to run all analytics in the project; the analysis results are saved in the specified project currency. The field defaults to the analysis default specified in . |
| Currency & Rate field in the Create New Exposure View pane | Use this field to specify the currency and rate that Touchstone uses when generating exposure views. |
| Currency & Rate field in the Analysis Management pane for detailed loss analyses | Use this field to specify the currency and rate that Touchstone uses during detailed loss analyses. Touchstone saves analysis results in the database using the specified currency and rate and records the setting in the analysis record. |
| Currency & Rate field in the Analysis Management pane for loss group analyses | Use this field to specify the currency and rate that Touchstone uses during loss group analyses. Touchstone saves analysis results in the database using the specified currency and rate and records the setting in the analysis record. |
| Display Currency field (for all open projects in the current Touchstone session) |
When Touchstone is shipped, the display currency default is set to the defaults specified in the Administration Console (). The application uses the default setting each time you open it. You can change the display currency for the current session in the Display Currency field, located in the upper right corner of the window. The modified setting persists until you change it again or close and then re-open Touchstone; when you re-open Touchstone, the field defaults to the default set in the Administration Console. Changing the display currency setting does not affect the currency in which Touchstone has stored analysis results. You can, at any time, view the original currency in which each location within a contract was imported by selecting *Saved Currency in the Display Currency list. Touchstone remembers the modified setting during the current session. |
| Currency column in the All Exposure Views grid |
When you launch Touchstone and navigate to the Exposure Views grid, Touchstone populates the Currency column with the default display currency, not with the currency selected when the exposure view was created. To view the currency specified when an exposure view was created, select *Saved Currency in the Display Currency list. (The setting you select persists through the Touchstone session until you change it.) The values in the Total Replacement Value and Currency columns in the grid reflect changes that you make to the display currency specified in the Display Currency field. |
| TRV Currency column in the Contract List |
This column displays the total replacement value in the currency specified in the column. Touchstone calculates the TRV based on the currency specified when the exposure view was created. To view the currency specified when the exposure view was created, select *Saved Currency in the Display Currency list. (The setting you select persists through the Touchstone session until you change it.) Note: When you change the display currency, Touchstone does not change the terms
currency.
|
Currency considerations
- To view the currency codes supported by Touchstone, log in to the Client Portal, navigate to the Developer Zone, click Touchstone Database Reference, and then search for "tCurrency Table" (located in the AIRReference database). The Description field for the Currency Code column lists the ISO 3-character code for each currency.
- For information concerning default settings, refer to Currency Rate Settings.
- When you export a loss to a .csv file that includes exposure data, you could be dealing with two types of currency, the currency in your exposure data and the currency used in the analysis. Therefore, some exported .csv reports include two currency columns. See Exporting Loss Results to CSV Files.
- When data is imported, the currency information is saved in an AIRExposure database. This information does not change when the user changes the display currency.
- The currency specified during an analysis is saved in the AIRResult database. If a user changes the default currency for the analysis, the change affects only that analysis.
- The administrator sets the display and analysis defaults in the .