Currency Rate Settings

Administration Console > Global Defaults > Currency Rate Settings

Currency defaults and exchange rates are used when you generate exposure views, run analyses, and view results. To manage currency defaults, exchange rates, or currency conversion tables, use the Currency Rate Settings pane in the Administration Console.

A guide to currency settings is available on the Touchstone 2021 (9.0) release documentation landing page on the Client Portal.

You can specify project-level currency rate settings to override the global currency rate settings.

Note:

The term "saved currency" applies to contracts and locations. Saved currency is imported with the imported exposure data; it is the original currency. It is saved in the database. A user can have one saved currency for the contract and different saved currencies for various locations.

You can import currency rate settings from a CSV file and export currency rate settings to a CSV file.


Parameters and Buttons	Description
Common Buttons	Use these buttons (when applicable) and parameters to create and modify currency rate settings.
Currency Rate Table	The left column in the Currency Rate Settings pane (not labeled) includes a list of currency rate tables. The AIR Default rate table always exists and is not modifiable. To create your own table, click (Create new Exchange Rate Set). When the new Custom Exchange Rate Set table appears, specify the defaults, modify the table as needed, and then click Save. You can rename the rate set in the Name field.
Display Defaults	This currency setting applies by default to all monetary values displayed in the user interface. Touchstone uses the selected currency conversion table to convert analysis currency values to the default display currency. You set the Display Defaults to Pound Sterling and Euro-Based. When you view the analysis results, the monetary values are displayed in Pound Sterling (currency code is GBP). If the Analysis Defaults are set to something other than Pound Sterling, Touchstone converts the monetary values to Pound Sterling based on the Pound Sterling rate. The *Saved Currency option in various panes in the user interface enables you to display exposures and results in the currency they were imported in or analyzed in respectively.
Analysis Defaults	This currency setting applies by default when any analysis is run. You set the Analysis Defaults to Swiss Franc and Euro-Based. When you configure a Detailed Loss Analysis, the Analysis Management pane displays Swiss Franc and Euro-Based in the Currency & Rate fields. If you select a different currency and rate when you configure an analysis, the new currency and rate apply only to the analysis that you are currently configuring. Note: The Currency & Rate specified in the AIR Default Loss Analysis Template overrides the Analysis Defaults specified here. You can, of course, modify the Currency & Rate setting when configuring a Detailed Loss Analysis.
Name	Displays the name of the selected currency conversion table. You can use this field to rename every table except for AIR Default.
Base Currency	Select a base currency from the list. This is used as a basis (1 unit) from which to convert one currency to another currency using the selected currency conversion table. While you can select any base currency, there can be only one per currency conversion table.
Rate	To modify a particular currency rate, click in the Rate cell for the currency rate you want to change, edit the rate, and then press Enter. A rate value must be a valid decimal value with a minimum value greater than "0".

Refer to Historical Events for more information.

To view the currency codes supported by Touchstone, log in to the AIR Client Portal, navigate to the Touchstone AIR Developer Zone, click the Touchstone Databases link (under Database Documentation), and then search for Currency Table. The Description field for the Currency Code column lists the ISO 3-character code for each currency.

Bulk Copy/Paste

To copy an entire currency rate set, select the set so that it appears in the pane, right-click in the pane, select Select All, right-click again, and then select Copy.

To paste the copied currency rate set into another set, select the set so that it appears in the pane, right-click in the pane, and then select Paste.

You can also copy/paste to/from an Excel spreadsheet.