many-to-many exchange rate (currencies)

[TruongSinh Tran]

( http://en.wikipedia.org/wiki/Exchange_rate )
direct quotation: 1 foreign currency unit = x home currency units
indirect quotation: 1 home currency unit = x foreign currency units

As far as I know, OpenERP only support indirect quotation. It is commonly used in developed countries, such as those in EU, US, Canada. However, in my case, which is Vietnamese Dong (VND), we cannot use indirect quotation, as it would be something like
1 Vietnamese dong = 3.84302712 × 10-5 Euros
and in fact, the official rates from State Bank of Vietnam are
1 EUR = 26 021 VND
1 USD = 19 230 VND

Can we have another field in currencies, such as "direct quotation or indirect quotation" or "multiply by or divided by" to support developing countries.

Thank you.

[Jay Vora (Serpent Consulting Services) (jayvora)]

Hello TruongSinh Tran,

We welcome your opinion.
Would you please describe this in more detailed specification?

Thanks.

[TruongSinh Tran (truongsinh-tran)]

Dear Jay,

Thank you for your interest.

As you can see from the wiki, OpenERP now only support single, one-to-many indirect quotation.

1. For example, if my base currency is EUR, and I have USD, GBP, JPY, CNY and VND, the configuration is
USD: 1.3332
GBP: 0.8930
JPY: 122.61
CNY: 9.1016
VND: 25154

which means
1 EUR = 1.3332 USD
1 EUR = 0.8930 GBP
1 EUR = 122.61 JPY
1 EUR = 9.1016 CNY
1 EUR = 25154 VND
This is what is most optimized for European enterprises.

2.Now, let see how a Vietnamese *have to* configure against OpenERP, assume my base currency is VND, and I have EUR, USD, GBP, JPY and CNY as foreign currencies:
EUR: 0.000039753
USD: 0.000053000
GBP: 0.000035501
JPY: 0.004874459
CNY: 0.000361826

Which means:
1VND = 0.000039753 EUR
1VND = 0.000053000 USD
1VND = 0.000035501 GBP
1VND = 0.004874459 JPY
1VND = 0.000361826 CNY

And, as you can see, it is quite infeasible! And illegal as well!

3.In fact, our State Bank of Vietnam quote foreign exchange as:
1EUR = 25154 VND
1USD = 18867 VND
1JPY = 205.15 VND
1CNY = 2763.7 VND

4.So, I am looking for a solution, that is *many-to-many* currency rate exchange. The configure should be something like:
EUR - VND - 25154
USD - VND - 18867
EUR - USD - 1.4332

Which means
1EUR = 25154 VND
1USD = 18867 VND
1EUR = 1.4332 USD (note that, if you use VND as a medium and calculate 25154/18867=1.3332, but official rate is 1.4332)

Hope those 4 cases above help you to some extent.

[TruongSinh Tran (truongsinh-tran)]

Boom!

[Fabien (Open ERP) (fp-tinyerp)]

improved in trunk with multi-company