Magento – Magento System Configuration: meaning of Currency Options

currency

The book "Magento Beginner's Guide – Second Edition", by Packt Publishing which is the latest book to be published on Magento as of October 2013, says the following about currency configuration, which is clearly a typo:

Referring to System -> Configuration -> GENERAL -> Currency Setup

The Default Display Currency field can only be set on the Website level. This is the currency that is used to display the price of your products. If you want to use multiple stores using different default currencies, this automatically means that you need to create more Magento Websites. A Store View won't work in such a case.

I am running Magento 1.8.0.0 whose screenshots aren't different here from those of the previous release. As the following screenshot shows the Base Currency must be set at the website level, not the default display currency:

[IMG]http://i43.tinypic.com/2rddlcm.png[/IMG]

In view of this misprint, could someone please explain to me the difference between "Base Currency", "Default Display Currency", and "Allowed Currencies"?

Thanks a lot.

Best Answer

According to the Magento Knowledge Base:

  1. In the Base Currency list, select the primary currency that is used for store transactions.
  2. In the Default Display Currency list, select the primary currency that is used to display pricing in your store.
  3. In the Allowed Currencies list, select all currencies that are accepted as payment by your store.
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