Currency Conversion Made Easy: A Comprehensive Guide on How to Change Currency on Google Sheets

Dealing with multiple currencies can be a daunting task, especially when working with spreadsheets. Google Sheets offers a convenient solution to this challenge, allowing users to effortlessly change currency and convert values with ease. This comprehensive guide will walk you through the step-by-step process of changing currency on Google Sheets, ensuring accurate calculations and seamless data management.

Understanding Currency Formats

Before diving into the conversion process, it’s essential to understand currency formats. Google Sheets supports a wide range of currency formats, including:

• Standard format: Displays the currency symbol before the value, e.g., “$100”
• Accounting format: Encloses negative values in parentheses and adds a decimal point to positive values, e.g., “(100)” or “100.00”
• Currency code format: Displays the currency code followed by the value, e.g., “USD 100”

Changing Currency Using the ‘Format’ Menu

The most straightforward way to change currency on Google Sheets is through the ‘Format’ menu:

1. Select the cells you want to convert.
2. Click on the ‘Format’ menu in the toolbar.
3. Hover over ‘Number’ and select ‘Currency’.
4. Choose the desired currency format from the dropdown list.

Customizing Currency Formats

If the default currency formats do not meet your specific needs, you can customize them:

1. Follow steps 1-3 from the previous section.
2. Select ‘More Formats’ from the ‘Number’ submenu.
3. In the ‘Custom Number Format‘ dialog box, enter the desired format code.
4. Refer to the Google Sheets documentation for a comprehensive list of format codes.

Using the ‘GOOGLEFINANCE’ Function

For real-time currency conversion, you can utilize the ‘GOOGLEFINANCE’ function:

1. Enter the following formula in a cell: `=GOOGLEFINANCE(“CURRENCY:USDEUR”)`
2. Replace “USDEUR” with the currency pair you want to convert.
3. The function will return the current exchange rate between the two currencies.

Converting Currency Using the ‘MULT’ Function

The ‘MULT’ function can be used to convert currency values based on a specific exchange rate:

1. Enter the following formula in a cell: `=MULT(A2, B2)`
2. Replace “A2” with the cell containing the value you want to convert.
3. Replace “B2” with the cell containing the exchange rate.

Using the ‘IMPORTDATA’ Function

If you have currency data in an external source, such as a website or CSV file, you can use the ‘IMPORTDATA’ function:

1. Enter the following formula in a cell: `=IMPORTDATA(“https://example.com/currency_data.csv”)`
2. Replace “https://example.com/currency_data.csv” with the URL or file path of the external data source.
3. The function will import the data and convert it to the default currency format.

Handling Different Currency Formats in Calculations

When working with data containing different currency formats, it’s important to ensure consistency:

1. Use the ‘CLEAN’ function to remove any formatting characters from the values.
2. Convert all values to a common currency format using the methods described above.
3. Perform calculations on the converted values.

Summary: Currency Conversion Simplified

Changing currency on Google Sheets is a breeze with the various methods available. By understanding currency formats, customizing formats, and utilizing functions like ‘GOOGLEFINANCE’ and ‘MULT’, you can effortlessly convert values, handle different currency formats, and ensure accurate calculations. Embrace the power of Google Sheets to streamline your currency management and make data analysis a breeze.

What You Need to Learn

Q: Can I change currency formats for multiple cells at once?
A: Yes, you can select multiple cells, right-click, and choose ‘Format’ > ‘Number’ > ‘Currency’ to apply the same format to all selected cells.

Q: How can I convert currency values between different sheets?
A: Use the ‘IMPORTRANGE’ function to import data from another sheet and convert it to the current sheet‘s currency format.

Q: What if I want to display currency symbols in different colors?
A: Apply conditional formatting rules to change the color of cells based on the currency symbol.