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Settings: Currency & Exchange

Manage your company currencies and exchange rates to ensure your global compensation data is accurate and comparable. This guide covers how to add currencies, set exchange rate preferences, and toggle between views in the platform.

Overview

Ravio’s currency settings allow you to standardise your financial data across different geographies. By setting a primary company currency and adding local variants, you can analyse your global team’s pay using either real-time market rates or custom rates that align with your internal financial planning.

Prerequisites

  • Permission level: Admin only.

  • Data needed: A list of the local currencies used in your various office locations.

Step-by-step instructions

Step 1: Access currency settings

To manage your account's financial defaults, navigate to the settings module.

  1. Navigate to Settings > Currencies & exchange.

  2. Identify your Company currency – this is the primary currency used for high-level reporting across the platform.

Step 2: Add additional currencies

If you have employees in multiple countries, you will need to add their local currencies.

  1. Click the Add currency button.

  2. Select the required currency from the dropdown menu (e.g. EUR, GBP, USD).

  3. These currencies will now be available for selection on the Analyse your company and Explore the market pages.

Step 3: Set your exchange rate preference

For each added currency, you must decide how the conversion rate is calculated.

  1. Locate the currency in your list and choose one of two options:

    • Real-time average: This uses a simple moving average sourced from exchangeratesapi.io. It is ideal for staying aligned with current market fluctuations.

    • Custom exchange rate: Manually enter a fixed rate. This is helpful if your finance team uses a ‘frozen’ rate for annual budgeting.

  2. Click Save to apply the changes.

Tips and tricks ✨

You can toggle between your Company currency and Local currency on the Analyse your company and Explore the market pages. This allows you to see benchmarking results in the specific currency of your choice without changing your global settings.

Frequently asked questions ❓

What is the source for the real-time currency exchange rates? We use exchangeratesapi.io as our primary data source to ensure accuracy.

What formula is used to calculate the rolling exchange rates? We apply a simple moving average to the data to reduce the impact of daily volatility.

Still need a hand? If you are seeing discrepancies in your converted values or need to change your primary company currency, our support team is ready to assist.

  • Reach out to us: Click the Contact Support button below.

  • Pro tip: When using custom exchange rates, remember to review and update them at the start of each new financial quarter or planning cycle.