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Microsoft Dynamics CRM has always had multi currency, but as with everything we are finding in CRM 2011 the enhancements to this rock! Here’s what we can tell you about CRM 2011 multi currency.


One of the main enhancements is that now precision can be defined/customized for individual currencies. This feature is mainly to support the currencies having no decimals (like Japanese Yen and the Korean Won) – I think we should lobby to get rid of all change here in the US as well J. The precision can be set on both the base and transaction currencies for the organization. The currency and currency precision for the organization can be set up during the create/import of the organization.

You can add additional currencies to the organization and also define the precision for these currencies. Here is the process for creating additional system currencies:

Click Settings, click Business Management, and then click Currencies.

CRM 2011 multi currency

Click New to add a new currency. Mark System in the Currency Type option to use out of box currencies.

Click the lookup icon on the Currency Code field.

Select the currency you want to add. In the dialog, you can view the precision of the currency.

Click OK.

The Current Precision value will be used to set Currency Precision. You can modify the currency precision later. Set the Exchange Rates. All Exchange Rates will be defined per one base currency value.

Another enhancement to the currency is that CRM 2011 allows you to add custom currencies – we have been toying with the idea of creating PowerObjects bucks…wondering if we could get them adopted. To add a custom currency, click on new and select the currency type as custom. And then, the Currency code turns to a text box where you can define custom properties for the currency including the precision.

This new concept of Currency Precision affects reports as well. In Microsoft Dynamics CRM 4.0, reports display the value of money fields from the database, ignoring the currency precision settings. Microsoft Dynamics CRM 2011 considers currency precision settings when generating reports. All the Out of Box reports are updated to reflect the precision settings.

These improvements to the multi-currency features in CRM 2011 best serve all currencies (helping organizations to achieve the best for their multi-currency requirements).


  1. You cannot specify currency precision during import; the default setting for the organization is used.
  2. Like other entities, system or custom currencies can be deleted or deactivated. If the currency is used on any records, it cannot be deleted.

As always if you have questions or are looking for help please reach out to the Microsoft Dynamics CRM experts at PowerObjects.

Happy CRM’ing

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Joe D365

Joe D365 is a Microsoft Dynamics 365 superhero who runs on pure Dynamics adrenaline. As the face of PowerObjects, Joe D365’s mission is to reveal innovative ways to use Dynamics 365 and bring the application to more businesses and organizations around the world.