---
title: "Using Currency and Currency Translation"
description: "Variables, if set to Currency format, have a Currency drop-down where you can explicitly choose the Currency (e.g. USD, JPY, GBP), which will set the currency prefix symbol (e.g. $ ¥ £) or wording (e.g. AUD)."
source_url: https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion
language: en
last_updated: 2026-05-01
---
# Currency and Currency Translation in Lucanet xP&A

## Overview

Currency settings and currency translation in Lucanet xP&A (Extended Planning & Analysis) allow you to flexibly set up your planning in multiple currencies.

As a first step, currency translation in Lucanet xP&A must be set at **organization level**.

If you wish to use different currency translation behaviors in Lucanet xP&A at model, variable, or dimension level, you can adjust the settings for these levels individually.

- Currency settings at **model level** can be used to either display the data in the local currency or in the display currency.
- Currency settings at **variable level** can be used to edit the local currency and exchange rate for individual variables or dimensions.
- Currency settings at **dimension item level** can be used to define a default currency for the dimension items used in variables. If needed, the default can be changed for certain dimension items in variables.
- In addition, you can set a **currency on data sources** for the data to be pulled in.

> **Note:** The translation of the different currencies is always based on the configured exchange rates.
>
> - Users who are also working with **Lucanet Consolidation & Financial Planning** (CFP) automatically use the exchange rates configured in CFP.
> - For users who do not work with CFP, currency translation is based on **Auto rates** from an external provider.

## Setting the Currency at Organization Level in Lucanet xP&A

As a first step for automatically translating currencies between different variables and data sources in xP&A, you have to set the currency for your organization. Proceed as follows:

1. Open the **Settings** workspace and navigate to the **Currency** organization settings. Currency translation is enabled by default.

    ![Shows the 'Currency' settings page in the Settings workspace of Lucanet xP&A, with the 'Enable currency translation' toggle, the 'Auto rates' and 'CFP rates' options, and the 'Default currency' drop-down list set to 'Unset'. Highlighted in red is the toggle to enable currency translation.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/enable-currency-translation.png)
    Enabling currency translation at organization level

2. Based on whether you use the Lucanet solution **Consolidation & Financial Planning** (CFP) or not, the source of the exchange rates used for currency translation will be set by default:

    - **Auto rates** if you do not have CFP enabled as a solution - this uses live rates from the external provider **Open Exchange Rates**.

    - **CFP rates**, if you have CFP enabled as a solution - this uses exchange rates configured in **Consolidation & Financial Planning**.

    To change this pre-setting, please contact our Customer Support.

    > **Warning:** Please note that these organizational settings apply for all models, variables, and dimensions and cannot be changed at a lower, individual level. I.e., if you choose **CFP rates** for your organization, you cannot select **Auto rates** for a model, a variable or a dimension, but CFP rates will always apply.
    >
    > **Important**
    >
    > Switching between **Auto rates** and **CFP rates** after you have set up currencies in your model may result in loss of information. If the system is not able to map a currency when changing the type of exchange rates, the affected variables will be converted to plain numbers and lose their currency formatting.
    >
    > **Example:** If you created a custom currency called "ZZZ" while using CFP rates, switching to Auto rates will convert any variables using "ZZZ" to numerical variables (without currency settings), since "ZZZ" is not a recognized currency code in Auto rates and can therefore not be mapped.

3. Choose the **default currency** of your organization.

    This default currency will be used for all newly created models and can be adjusted individually in the [currency settings at model level](#setting-the-currency-at-model-level-in-lucanet-xpa).

4. If you use **CFP rates** for currency translation, configure the additionally displayed **Exchange rates** section by choosing for each currency relation the **data level** in CFP to be applied to the exchange rate table in xP&A.

    ![Shows the 'Exchange rates' section in the currency settings of Lucanet xP&A, listing currency relations such as 'AUD -> CHF' and 'AUD -> EUR', each with a data-level drop-down list. Highlighted in red is the drop-down list for the 'AUD -> CHF' relation, open to show the options 'Unset', 'Ist', 'Budget', 'FC 9+3 2024', and 'Budget 2025'.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/selecting-exchange-rates.png)
    Selecting the exchange rates from CFP

5. Click **Apply**.

## Setting the Currency at Model Level in Lucanet xP&A

By default, each new model in Lucanet xP&A will use the currency translation settings configured at organization level.

If you want to use different currency translation behavior in a model, you can adjust it in the [model settings](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/working-with-models/editing-model-settings.md). These model-level settings determine how the model interprets and translates values throughout all variables (unless you configure individual translation behavior [at variable level](#setting-the-currency-at-variable-level-in-lucanet-xpa).)

1. Click the gear icon to open the **Model Settings:**

    ![Shows the currency options in the 'Model Settings' panel of Lucanet xP&A, including the 'Exchange rates' section with currency relations such as 'AUD -> CHF', the 'Edit in CFP' link, the 'Default currency' field set to 'USD', and the 'Default exchange aggregation type' drop-down list set to 'Average exchange rate'.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/currency-model-settings.png)
    Currency options in the model settings

2. Under **Exchange rates**, assign for each exchange rate relation the exchange rates from CFP to be used.

        All exchange rates for which an [exchange rate table](https://support.lucanet.com/en/documentation/consolidation-financial-planning/platform-dimensions/currency-translation/create-configure-exchangerate-table.md) has been defined in **Consolidation & Financial Planning** are available for selection.

        If necessary, you can update the selection using the **sync button** or edit the available exchange rates in **Consolidation & Financial Planning** using the link **Edit in CFP**.

3. Select the **Default currency** for the model.

4. Select the **Default exchange aggregation type:**
       - **Average exchange rate**
       - **Closing exchange rate**

5. Click **Apply changes**.
## Setting the Currency at Variable Level in Lucanet xP&A

By default, a variable in Lucanet xP&A uses the same default currency and currency translation settings as the model it is used in.

However, you can change the currency settings for each variable, e.g., to set a variable to USD even if the model is EUR.

To individually set the currency of a variable:

1. Click the edit icon or the icon to the left of the variable name.

2. Click the currency icon to set the **Currency** data type for the variable.

3. Choose the **currency** and the **exchange rate aggregation type** from the drop-down lists:

    ![Shows the variable settings menu in Lucanet xP&A with the 'Currency' field set to 'EUR' and the 'Exchange rat...' (aggregation type) field set to 'Default', alongside 'Format', 'Aggregation', 'Sorting', 'Comment', 'Inspect', 'Copy to', 'Move to', and 'Delete' options. Highlighted in red are the 'Currency' and 'Exchange rate' fields.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/currency-settings.png)
    Currency settings for a variable

        The variable is then displayed with the **Currency** data type icon and all values of the variable are displayed in the set currency and with the corresponding currency symbol:

    ![Shows a spreadsheet view in Lucanet xP&A with two currency variables, 'Sales - Revenue Line 1' set to 'AUD' and 'Sales - Revenue Line 2' set to 'GBP', each showing values with their currency symbol, e.g. 'A$1,205,016' and '£1,064,448'. Highlighted in red are the currency icon, the 'AUD' currency badge, and the currency-formatted values.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/variable-with-currency.png)
    Variables with a set currency

> **Warning:** The following constraints apply when setting the currency for a variable in Lucanet xP&A:
>
> - Only those currencies for which an exchange rate table has been defined in the [model settings](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/working-with-models/editing-model-settings.md) are available for selection.
> - If a variable in EUR uses a variable in USD, **automatic conversion** occurs using the model’s currency settings.

## Setting the Currency at Dimension Item Level in Lucanet xP&A

For variables with dimensions (e.g., **Region**, **Entity**, **Country**) in Lucanet xP&A, different currencies can be assigned per dimension item.

**Example**:

- Revenue \[US\] uses USD
- Revenue \[France\] uses EUR
- Revenue \[UK\] uses GBP

Totals always use values converted into the variable’s currency before aggregating.

You can set a **default currency** for each dimension item in the [Dimension Settings](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/using-dimensions/create-edit-dimensions.md). This saves time when you have many variables using the same dimension item, as the variables by default use this currency then.

If needed, you can also specify individually for each variable, if the dimension items used therein use a different currency.

### Setting a Default Currency at Dimension Item Level in Lucanet xP&A

You can set a default currency at the dimension item level in the  [Dimension Settings](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/using-dimensions/create-edit-dimensions.md) which will be used by every variable using this dimension item as default.

1. Open the dimension details by clicking the dimension name.

2. Click the **+** icon in the column header and choose **Show currency column**.

    ![Shows the menu that opens when you click the '+' icon in the column header of a dimension's details in Lucanet xP&A, with options 'Link dimension', 'Show type column', and 'Show currency column'. Highlighted in red are the '+' icon and the 'Show currency column' option.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/show-currency-column.png)
    Show currency column

3. In the currency column, click the currency cell and select the default currency. Choose one of the following options:

    - Choose the **default currency** from the list of available currencies.
    - Choose **Unset** if no default currency is needed.

    ![Shows the currency drop-down list for a dimension item in the currency column of Lucanet xP&A, with a searchable list of currencies including 'EUR', 'CAD', 'USD', 'GBP', 'NOK', 'JPY', 'AUD', 'CHF', 'SEK', 'NZD', and 'BAM', and the current selection set to 'Unset'.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/choose-default-currency.png)
    Choosing the default currency

> **Note:** Keep the following in mind after setting a default currency for a dimension item in Lucanet xP&A:
>
> - Once a default has been set, new currency variables using this dimension will automatically use the set currency as default.
> - Existing variables are not automatically changed but they keep their current settings.

### Setting a Currency for a Dimension Item in a Variable Individually in Lucanet xP&A

If you want a certain dimension item in a variable to use a different currency than the default currency set in the dimension settings, you can assign an individual currency in the model:

1. Open the **Spreadsheet** view of the model.

2. Navigate to the desired variable and expand the list of dimension items under a dimension.

3. Click the **currency icon** on the right of the dimension item name and choose one of the following options from the menu:

    - **Parent default**, if the dimension shall use the variable's default currency or the parent dimension's currency
    - **Default currency**, if the dimension item shall use the default currency set for this dimension item in the dimension setting (only available if a default is set as described in the previous sub-heading).
    - Choose a **specific currency** and the **exchange rate aggregation type** from the drop-down lists.

    ![Shows the currency menu for a dimension item ('California') under the 'Revenue' variable in a Lucanet xP&A model, with the 'Currency' field set to 'Default' and the options 'Parent default', 'Dimension default' (checked), and a 'RECENT' list showing 'EUR'. Highlighted in red are the 'Parent default' and 'Dimension default' options and the recent currency list.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/choose-currency-individually.png)
    Currency options for a dimension item in a variable

4. The variable using this dimension item is then displayed with the corresponding currency symbol.

> **Tip:** **Understanding Currency Inheritance**
>
> The system uses the following hierarchy in Lucanet xP&A to determine which currency applies to a dimension item (from highest to lowest priority):
>
> 1. Explicit currency set on dimension item in the model (variable-level override)
>
> 2. Dimension default currency (from dimension settings)
>
> 3. Parent dimension's currency (if a variable has multiple dimensions)
>
> 4. Variable's default currency (the currency set on the variable itself)
>
>     **Example scenario:**
>
>     Variable **Revenue** has **USD** as its default currency
>
>     Dimension **Region** has **EUR** set as default for **France**
>
>     - If you select **Dimension default** for **Revenue \[France\],** the dimension item will use **EUR**
>     - If you select **Parent default** for **Revenue \[France\]**, the dimension item will use **USD**(the variable's default)
>     - If you select **GBP** individually, the dimension item will use **GBP** regardless of any defaults

### Important Behaviors When Changing the Currency Settings for Dimension Items in Lucanet xP&A

The following behaviors apply in Lucanet xP&A when you change currency settings for dimension items:

**Non-Currency Variables**

- If a variable is **not** a currency type (e.g., count, percentage), dimension item currency settings are ignored
- Currency settings only apply to variables with a currency unit type

**Changing Defaults**

- If you update a default currency in the dimension settings, only dimension items set to **Dimension default** will be affected
- Dimension items with explicit currency selections remain unchanged

**Removing the Default Currency**

- If you remove a default currency from the dimension settings, all dimension items using **Dimension default** will fall back to **Parent default** (the variable's currency)
- A confirmation warning will appear before this change is applied

### Example Workflow for Currencies at Dimension Item Level in Lucanet xP&A

**Scenario:** You have a **Revenue** variable broken down by **Country**(**US, UK, France, Germany**).

1. Set up the default currency in the dimension settings:

    - US → USD
    - UK → GBP
    - France → EUR
    - Germany → EUR

2. Create your revenue variable and set its unit to Currency with USD as the variable default.

3. **In the model**, each country row will automatically use the **Dimension default**:

    - Revenue \[US\] shows in USD
    - Revenue \[UK\] shows in GBP
    - Revenue \[France\] shows in EUR
    - Revenue \[Germany\] shows in EUR

4. The **Total** row converts all values to USD (the variable's default) before summing.

5. To override a specific **dimension item**, click the currency icon and select a different currency or **Parent default** to use the variable's currency instead.

## Setting the Display Currency of a Model in Lucanet xP&A

By default, a model in Lucanet xP&A displays all currencies in the **local currency** that has been configured for them.

You can change this setting so that the variables and dimensions are displayed in another display currency, converting all the currencies based on the configured exchange rates.

To do so, open the currency options in the top ribbon of a model and choose, if you want to display the local currency or any other currency for which an exchange rate has been defined:

![Shows the 'Finance Model' spreadsheet view in Lucanet xP&A with the 'Local currency' button open, showing a drop-down list of currencies including 'Local currency' (currently selected), 'AUD', 'BAM', 'CAD', 'CHF', 'EUR', 'GBP', 'JPY', 'NOK', 'NZD', 'SEK', and 'USD'. Highlighted in red are the 'Local currency' button and the currency drop-down list.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/change-currency.png)
Options to change the display currency of a model

> **Note:** Please note that the editing of values occurs in the local currency that is set on the variable or dimension.

## Currency Translation of Connected Data in Lucanet xP&A

You can set a currency for every data source used to [integrate data](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/integrating-data.md) into Lucanet xP&A from a source system.

**General Behavior**

When connected data that has a currency set is connected to a variable in a different currency, xP&A will automatically convert all values pulled in from a data source to the currency set for the variable:

- e.g. if your variable is in AUD, but you connect data that is in USD, xP&A will convert the USD data values to AUD
- e.g. if your data is in USD but you want to see how that converts to EUR, set the variable to EUR and xP&A will convert USD to EUR

**Behavior With Multiple Data Sources**

If more than one data source is connected to the same variable, **all data sources** are automatically converted into **one target currency**.

By default, the first added data source’s currency becomes the initial target currency.

You can override this behavior in the [variable’s currency settings](#setting-the-currency-at-variable-level-in-lucanet-xpa). All other data sources connected to this variable will be converted into that variable's target currency.

### Setting the Currency for a Data Source in Lucanet xP&A

How you set the currency for a data source in Lucanet xP&A depends on the type of data source.

**For CFP data sources**

For CFP data sources, the currency is assigned during the [set-up process](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/integrating-data/connecting-to-a-data-source/connecting-to-a-lucanet-cfp-data-source.md) in the **Select ledger** step under display currency:

![Shows the 'Select ledger' step of the 'New Lucanet CFP datasource' dialog in Lucanet xP&A, with fields for 'Ledger', 'Data level', 'Display currency', and 'Data range'. Highlighted in red is the 'Display currency' field.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/currency-cfp-datasource.png)
Currency settings of a CFP data source

**For all other data sources**

For all other data sources, the currency is set after the data source has been created. To do so, go to the **Overview** tab of the data source and choose the **currency** and if you want to use the **average exchange rate** or **closing exchange rate** for conversion.

![Shows the 'Overview' tab of a data source named 'Transaction (1).xlsx - Transaction' in Lucanet xP&A, with the currency set to 'EUR' and 'Rate: Average exchange rate', plus 'Save' and 'Cancel' buttons. Highlighted in red are the 'Overview' tab and the currency and exchange-rate settings.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/data-source-currency-settings.png)
Currency settings for a data source

> **Note:** Keep the following in mind about currency settings for data sources in Lucanet xP&A:
>
> - Only the user that created the data source can update the currency settings.
> - For common data sources, currency settings are automatically detected and set by xP&A.
> - For other data sources where xP&A cannot auto-detect the currency (e.g. Google Sheets), currency can be manually set (but currency settings are completely off by default).

## FAQ on Currency Translation in Lucanet xP&A

This section answers frequently asked questions about currency translation in Lucanet xP&A.

### Where can I see the exchange rates used? Where does xP&A source the exchange rates from? Can I adjust the exchange rates used?

You can see the exchange rates for each period used by drilling-down into the cells of the converted variable.

### Does xP&A calculate currencies over two exchange rate tables?

**Example**:

From **MXN** to **EUR** through **MXN** to **CHF** and from **CHF** to **EUR**(if there is no exchange rate table for MXN to EUR)?

**Answer**

**No**, xP&A does not perform currency triangulation across multiple exchange rate tables. If a direct **MXN–EUR** rate is missing, the system will only use the inverse of an existing rate. E.g. if you have **MXN** to **CHF** configured, xP&A will know the rate from **CHF** to **MXN** but not to other currencies.

### Why don't Payroll / HRIS data sources have currency auto-set in Lucanet xP&A?

In Lucanet xP&A, Payroll/HRIS data sources do not have currency set because often different employees are paid in different currencies. Our Headcount wizard shows how to translate all employees into one common currency using a **Currency** dimension, and a user-populated exchange rate variable. We do not recommend setting a data-source level currency for this data source, unless every employee is paid in the same currency.

### What happens when I have "future" data that goes beyond what xP&A has exchange rates for?

For any periods where xP&A cannot access an historical exchange rate, xP&A will carry the latest historic rate forward, and convert "future" data values at that rate. For example, in a monthly model, if there are historical exchange rates until November 2023, but you have data available and connected for December 2023, xP&A will convert the December 2023 value using the latest rate from November 2023 (depending on whether data source is set to **Average** or **Closing exchange rate**).

### What is the "Custom" currency option in Lucanet xP&A?

If you use a currency that is not on our list (e.g. a certain cryptocurrency), you can select **Custom** (at the very bottom of the list) and set your own prefix/suffix to reflect the currency.

![Shows the bottom of the currency selection list in Lucanet xP&A, including currencies such as 'South African Rand (ZAR)', 'Zambian Kwacha (ZMW)', and 'Zimbabwean Dollar (ZWL)', with the 'Custom' option listed at the very bottom.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/custom-currencies.png)
Working with custom currencies

> **Note:** If you have a **Custom** currency set, xP&A will not be able to do any auto-translation.

### What if I don't want to use xP&A's currency translation?

If you don't want to use currency translation, you can switch off the feature on your organization level (see [Configuring Currency Translation at Organization Level](#setting-the-currency-at-organization-level-in-lucanet-xpa)).

### What if there is data present for the current period (e.g. month in a monthly model), but the period is not yet finished?

For any data items that are constant (i.e. non-time-varying), xP&A will convert these at the latest completed period's rate. For example, in a monthly model, if there are historic FX rates until November 2023, but the current date is 15th December 2023, xP&A will convert the constant value using the latest rate from November 2023 (depending on whether data source is set to **Average** or **Closing exchange rate**).

Lucanet xP&A uses the same logic for data connected to [models without a time dimension (i.e. granularity of None).](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/working-with-time.md)

## Different Ways to Set Up Your Consolidation Models in Lucanet xP&A

There are many ways you can set up your consolidation in Lucanet xP&A.

You can either have no entity breakdown (in which case you would drill-down to see detail at the entity level), or you can use dimensions to break down by entity (see below) which means you can easily visualise historics by entity, and forecast by entity, too.

![Shows the 'Marketing' category in a Lucanet xP&A model broken down by the 'Entity' dimension into 'UK' and 'US' rows, each connected to a data source shown by the green 'qb' (QuickBooks) badge.](https://support.lucanet.com/assets/docs-images/xp-a---extended-planning-and-analysis/modeling-your-data/currency---fx-conversion/_images/en/consolidation-model.png)
'Marketing' is broken down by Entity (UK, US), and data is connected at the entity level

To set up entity-level breakdown in Lucanet xP&A:

- [Create a dimension called 'Entity'](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/using-dimensions/create-edit-dimensions.md), and add a dimension item for each entity.
- [Breakdown the variables by this 'Entity' dimension](https://support.lucanet.com/en/documentation/xp-a---extended-planning-and-analysis/modeling-your-data/using-dimensions/dimensions-variables-and-formulas.md), and connect data items from each entity to the relevant entity row.

> **Note:** You can also have **separate models** **for each entity**, and then have a linked consolidation model that combines them together.
>
> Note, however, that we do not recommend this, as (1) you will not be able to take advantage of our automatic currency translation (unless you also connect the consolidated model to data from each entity), (2) adding extra entities would be manual (building an extra model, vs. simply adding an extra dimension item in the **Entity** dimension as per above).