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Guide to Currency Settings |
Touchstone contains several currency selection fields. Your selections in these fields affect the display of currency data in various parts of the application.
The following table lists currency selection fields and describes the effects of your settings on these fields. Click here for some considerations to keep in mind.
| Currency Field | Description | ||
Currency and Rate field on AIR ImportExpress Options tab |
Determines 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. |
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Currency field on AIR ImportExpress > Field Mapping window > Contracts tab > Defaults tab |
Determines the default currency that Touchstone uses when importing CSV exposure data if your 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. See the Currency field on the Defaults tab. |
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Currency & Rate field on Create New Exposure View pane |
Determines the currency and rate that Touchstone uses when generating the Exposure Summary Dashboard (maps, charts, etc.). It does not affect the underlying data that Touchstone uses to perform analyses. |
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Currency & Rate field on Analysis Management pane for Detailed Loss Analyses |
Determines the currency and rate that Touchstone uses during the analysis. Touchstone saves analysis results in the database using the currency and rate that you specify, and records your setting in the analysis record. |
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Currency & Rate field on Analysis Management pane for Loss Group Analyses |
Determines the currency and rate that Touchstone uses during the analysis. Touchstone saves analysis results in the database using the currency and rate that you specify, and records your setting in the analysis record. |
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Display Currency area of Project ribbon
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Determines the currency and rate that Touchstone uses to display the currency and currency rate of analysis results. Changing the settings here does not affect the currency in which Touchstone originally stored the analysis results. The values in the Total Replacement Value and Currency columns in the project's Exposure Views grid reflect changes to the specified Display currency. To view the original currency in which each location within a contract was imported, select the "*Saved Currency" option in the Display Currency area. |
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Currency column in Exposure Views grid |
The first time you launch Touchstone and navigate to the Exposure Views grid, Touchstone populates the Currency column with the currency selected when the exposure view was created. If you then select the Project tab while the initial Exposure Views grid is still displayed, the currency changes to reflect the default Display Currency as specified in the Administration Console. To display the currency used when creating the view, you must select *Saved Currency in the Display Currency area. When you close and re-open Touchstone, the Display Currency returns to the default, not to the Saved Currency. You must re-select the Saved Currency option. |
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TRV Currency column in Contract List |
Displays the currency used to calculate the TRV.
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• To view the currency codes supported by Touchstone, log in to the Client Portal, navigate to the Touchstone Developer Zone, click the Touchstone Databases link (under "Database Documentation"), and then search for "tCurrency Table". 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.
• Currency and exports: When you export a loss to a CSV file that includes exposure information you might 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. For more information on which reports are affected, see Exporting Loss Results to CSV Files.
Exposure Currency column: The currency of the exposure data
Analysis Currency column: The currency used in the loss analysis
• When data is imported, the currency information is saved in an AIR Exposure database. This information is never changed if the user changes the Display currency for the project or as a result of an analysis.
• The currency specified during an analysis is saved in the AIR Result database. If the user changes the default currency for the analysis, the change affects only that analysis.
• The administrator sets defaults for the Display Defaults option and the Analysis Defaults option in the Administration Console (Global Defaults > Currency Rate Settings). These are the defaults that the user always sees after launching Touchstone, when viewing monetary values in the user interface or when launching a new analysis.
• Users can override the default for the Display Defaults option by selecting a different Display currency in the Project > Display Currency area. Users can override the default for the Analysis Defaults option by selecting a different currency on the Create New Analysis pane. Overrides apply only to the current Touchstone session.
• If the user selects a different Display Currency, it affects all monetary displays in the project. However, the user can always select “Saved Currency” in the Display Currency area to see the currency saved with the analysis results.
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© 2020 AIR Worldwide. All rights reserved. Touchstone 7.0 Updated September 03, 2020 |
