If your work is related to finance, it is guaranteed that you will convert different currencies at some point. We Know manual conversions between several currencies are a hectic job. So, If you want to save your time, learn How to automatically Convert currencies in Google Sheets.
Learn the Magical Formula
GOOGLE FINANCE function is an in-built feature of google sheets that allows the user to convert any currency accurately and conveniently. All you need to remember is a short formula to convert your currency in real-time.
You need to use
=GOOGLEFINANCE( "CURRENCY" : <source_currency_symbol><target_currency_symbol>") the formula in your preferred box of google sheet. For the better and more efficient use of this formula, you need to understand it first and always update your list for a longer or shorter period by replacing the number 10 according to your needs.
The GOOGLE FINANCE term prompts the google sheet to fetch the current historical data from the finance archive. Moreover, the
source_currency_symbol code refers to the currency I like to convert. Similarly, the
target_currency_symbol code refers to the currency I like to convert with.
Now, for better understanding, You need to replace the formula with country codes. For example, if you want to convert the dollar to the pound, you will have to use their codes. Here the currency code of dollar is “USD” and “GBP” for pound.
The new formula will be
=GOOGLEFINANCE( "CURRENCY: USDGBP" ) after you are done with replacing the formula with the above currency codes. After that, hit the enter button and google sheet will do all the work. On-screen, you will see, how much pounds you will get in exchange for a US dollar. Till here, we taught you to set currency conversions rate.
Convert your Currency
Now it is time for you to convert all of your US dollars into British pounds. If you have followed the above instructions correctly you will see the conversion rate in cell D . Therefore, the Dollar amount should be in Cell C.
Now, your goal is to find the cell C value which is then converted value of US dollars into British pounds.
To get the answer you have to type B2*D2 in cell C2 which will multiply the cell B amount with cell D. As it is the conversion rate.
Get Historic Currency Conversion Rates
Till now you have learned how to convert your currency. However, if you want to use historical exchange rates, don’t leave us yet.
To get the historical currency conversion rate you need to click on the empty cell and enter
=GOOGLEFINANCE ( "Currency: CURRENCYCODES", "price", DATE (YYYY, MM, DD), DATE ( YYYY, MM, DD) the formula. Here, the first DATE function represents the initial date while the second DATE function represents the end date.
You can always manipulate the formula by replacing the DATE function with other functions like today. Therefore, your formula will look like this:
=GOOGLEFINANCE( "Currency : CURRENCYCODES" , "price", TODAY ( ) -10 , TODAY( )). This formula will update your list to show currency exchange rates for the past 10 days. You can always update your list for a longer or shorter period by replacing the number 10 according to your needs.
By now you must have learned how to beat the extra hassle for the conversions that you can do in a few clicks which saves time and energy. In this fast-moving world, it is always essential to learn new techniques which help you to complete your tasks efficiently.