Currency settings
Set your company's base currency, add exchange rates for the currencies you work in, and understand how request currency locks bids and pricing.
What you'll learn
- Set and change your company's base currency
- Add exchange rates for currencies you deal in
- Understand how request currency locks bid pricing
VEXORS is built for cross-border procurement, which means currency is not an afterthought. The currency your company reports in, the currencies your requests are published in, and the rates you use to convert between them are all controlled in one place: Settings under Currency.
Currency settings are Admin-only. If you are a Member, the Currency page is not available to you at all: the route redirects you elsewhere rather than showing a read-only view. Ask an Admin on your team for rate information.
Why this matters
When a buyer publishes a request in USD and a supplier bids in a different currency, the numbers are only comparable if there is a defined exchange rate between them. Without it, comparing bids across currencies is guesswork. Setting your base currency and exchange rates gives your team a single consistent reference point for all pricing, regardless of which side of the transaction you are on.
Your base currency
Your base currency is the reference point for everything in your account. It is the currency your reports aggregate to, the currency exchange rates convert into, and the default offered when you set pricing or review bids.
To set or change it, go to Settings > Currency and select your currency from the Reporting Currency dropdown.
Changing your base currency requires a bridge rate. When you select a new base currency, a dialog asks you for the conversion rate from your old base to the new one. This is used to restate your existing exchange rates in the new base. The change takes effect immediately once you confirm.
Changing your base currency does not change the currency of any live request or bid. Requests lock their currency at the moment they are published, and that lock is permanent for the life of the request.
Exchange rates
Exchange rates tell VEXORS how much one currency is worth in your base currency. You add one rate per currency pair. For example, if your base is AED and you deal in USD, you add a USD/AED rate.
Add a rate
Select Add Rate on the Active Exchange Rates card. Choose the currency you are defining the rate for (this is the "from" currency), then enter the rate as how many units of that chosen currency equal 1 unit of your base currency, and set an effective date. Then save.
The "to" currency is always your base currency and cannot be changed in this form. Read the direction carefully: the number you enter is the foreign amount per 1 base unit, not the other way around.
Set the effective date
Every rate has an effective date. If you enter today's date, the rate applies immediately. If you enter a future date, the rate is labelled Scheduled and will apply from that date onwards. This lets you record a known upcoming rate change in advance.
Edit an existing rate
Each rate card on the Active Exchange Rates section has an edit button. Select it to open the edit form where you can update the rate value and effective date. Editing saves as a new entry in the rate history, preserving the old value for reference.
Deleting a rate
You can also delete a rate you no longer need from its card on the Active Exchange Rates section. VEXORS blocks one case: if the rate you are deleting is the only rate defined for that currency pair, the delete is refused, because at least one rate has to exist for any pair your company prices in.
Rate history
Below the active rates, the Rate History table shows every rate change that has been made, including who made it and why. This creates a permanent audit trail for your pricing decisions.
How currency works on requests and bids
When a buyer creates a request, they set a currency for that request during the Details step. Once the request is published, that currency is locked. Every supplier who bids on that request must price their bid in the same currency. There is no option to bid in a different currency.
When you open a request to bid on, the currency is already set and you cannot change it. If the request is in a currency that is not your base currency, VEXORS checks whether you have a valid exchange rate defined for that pair as of today. If you do, the bid form shows your converted amounts so you can cross-check your pricing. If you do not have a rate defined for that pair, submission is hard-blocked: you cannot submit the bid until an Admin adds the missing rate.
This design ensures that all bids on a single request are directly comparable because they are all in the same currency. Buyers do not need to manually convert prices when evaluating.
If your company regularly bids on requests in a currency other than your base, add that exchange rate in Settings > Currency before you start bidding. Having the rate defined in advance means your bid form will show converted amounts and the system will not block your submission.
Next steps
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