In this article, we explain how ChartMogul handles subscription plans billed in foreign currencies. Learn more about our approach to calculating MRR in multiple currencies and which currencies we support.
How it works
Each time ChartMogul encounters a transaction or subscription with a foreign currency, we automatically convert it.
To do this, ChartMogul maintains a database of historical exchange rates for each day for the last ten years. We update the database daily with the latest rates from Open Exchange Rates.
ChartMogul converts transactions based on transaction date and reports converted amounts in cash flow reports. For MRR, the conversion rate is based on the service period start date, and ChartMogul reports these in your MRR charts.
For the current day (i.e. today), ChartMogul performs an initial conversion using the previous day’s exchange rate and updates the conversion once the current day’s rate is established.
Since exchange rates fluctuate, so may your MRR metrics in ChartMogul as new invoices are issued. ChartMogul doesn’t generate MRR movements for expansion or contraction resulting from currency fluctuations. Instead, we report these in the Exchange Rate Impact row in the table following each chart.
For customers you add manually (which lack invoice and transaction data), ChartMogul bases the conversion on the MRR movement’s date. Therefore, MRR for these customers remains the same until there is a new MRR movement.
Read more about MRR movements.