[FINERACT-91] Add Support for Multi-Currency/Cross-Currency Transactions/Currency Exchange into Fineract

• Type: New Feature
• Status: Open
• Priority: Major
• Resolution: Unresolved
• Labels: Roadmap2022 gsoc2016
• External issue URL: https://mifosforge.jira.com/wiki/display/MIFOSX/Cross-Currency+Transactions
• Assignee: Unassigned
• Reporter: Ed Cable
• Created: 21/Mar/16 08:44
• Updated: 30/Oct/22 17:35

Description

Many Fineract users operate in multiple currencies either within one country or across multiple countries. Fineract has basic multi-currency support in tersm of the ability to support multiple currencies across the organization and define loan products in specific currencies. Support is needed to actually track and manage the foreign exchange rate of these currencies.

A couple specs are in place at:

https://mifosforge.jira.com/wiki/display/MIFOSX/Cross-Currency+Transactions

and

https://mifosforge.jira.com/wiki/display/MIFOSX/Currency+Exchange

If you watch this video of a demo Robert did of the FINEM system he built, you can see the work a partner has done in implementing this feature:

https://www.youtube.com/watch?v=kQXiwDcbqrk