Guide to Currency Settings

Touchstone has various currency selection fields. Currency display settings do not affect the underlying data that Touchstone uses to perform analyses.

The following table describes how Touchstone uses the available currency 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 AIR ImportExpress Options tab

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.

Currency field on the AIR ImportExpress > Field Mapping window > Contracts tab > Defaults tab

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. See the Currency field on the Contracts Defaults tab.

Project Currency field in the Create Project dialog box

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 Administration Console > Global Defaults > Currency Rate Settings.

Currency & Rate field in the Create New Exposure View pane

The currency and rate that Touchstone uses when generating the Exposure Summary Dashboard (maps, charts, etc.).

Currency & Rate field in the Analysis Management pane for Detailed Loss analyses

The currency and rate that Touchstone uses during an analysis. 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

The currency and rate that Touchstone uses during an analysis. 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 *Saved Currency in the Administration Console (Global Defaults > Currency Rate Settings). When you open Touchstone, you see everything in the default display currency.

You can change the display currency for the current Touchstone 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 All Exposure Views grid reflect changes to the display currency specified in the Display Currency field.

TRV Currency column in the Contract List

The total replacement value in the currency specified in the TRV Currency 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 AIR Client Portal, navigate to the AIR 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 information, 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 AIR Exposure database. This information does not change when the user changes the Display Currency.

  • The currency specified during an analysis is saved in the AIR Result database. If a user changes the default currency for the analysis, the change affects only that analysis.

  • The administrator sets the Display Defaults and Analysis Defaults options in the Administration Console (Global Defaults > Currency Rate Settings).