Currency Conversion
Overview
Currency conversion is performed in various system flows.
For example, when the requested search currency is different than the supplier’s currency the system will need to convert the price returned by the supplier to the price in the requested currency.
HSP maintains a list of currency pairs, and for each pair, default exchange rates are updated periodically from openexchangerates.org.
It is possible to perform adjustments to these default exchange rates on any node or user level, based on the client’s business needs.
Currency Tab
To acces the Currency Tab :
- In the Back-Office, navigate to and click on "Manage Company."
- The Company/Users screen will be displayed.
- Select the Node/User you want to configure.
- Click on "Currency" tab .
The tab displays by default the Client's currency exchange rates for the different currency pairs.
You can use this tab to view currency exchange rates and configure manipulations on the given rates.
| Field | Description |
|---|---|
| Currency | Displays the quote currency on the left and the respective currency pairs. |
| Rate | Displays the exchange rate for the currency pair i.e. the price of the base currency in the quote currency, and vice versa. |
| Modifier type | Displays the manipulation type (if any) performed on the default rate. The default type is Inherit. The following types are available: Inherit – the rate that was inherited from the parent node . Bank rate – the rate as updated from openexchangerates.org . Percentage – allows modifying the provided Rate value by a certain percentage value. When selected, the Modifier value field will be enabled and will allow specifying the percentage value. Fixed value - allows specifying a fixed value as the Rate. When selected, the Modifier value field will be enabled and will allow specifying the fixed exchange rate value. |
| Modifier value | Allows modifying the Rate based on the selected Modifier type. Inherit – the field is disabled and displays 100% Bank rate – the field is disabled and the exchange rate value would be the value stated in the Bank rate field Percentage – the field is enabled and allows modifying the Rate value by a certain percentage value. Use the arrows or type a respective value to affect the Rate. Fixed value – the field is enabled and allows specifying a fixed value as the Rate. Use the arrows or type a respective value to affect the Rate . |
| Bank rate | Displays the exchange rate value as updated from openexchangerates.org. |
| Inherited rate | Displays the exchange rate value inherited from the parent node. |
Default Search Currency
In the Back-Office for each user or API user can set a "Default Search Currency."
This ensures that every search displays the "FinalPrice" in your chosen currency, alongside the OriginalPrice in the supplier's currency.
To set up the "Default Search Currency" :
- In the Back-Office navigate to "Manage Company."
- The Company/Users screen will be displayed.
- Select the user you want to configure.
- Click on the "User settings" tab .
- Under the "Hotels" section - define the desired currency .
Desired Result Currency
As outlined in the section "Hotels API/Search Hotels", when initiating a Search Hotels request - you can specify the "DesiredResultCurrency" to determine the currency used in the Search Hotels response.
By setting this value, it will override the "Default Search Currency", ensuring that the room prices in the response are displayed in the "DesiredResultCurrency" .
Default Currency - Contract Level
As outlined in the section "Manage Client Settings/Overview/Contract Screen", there's option to set a "Default Currency" at the contract (account) level.
Setting the "Default Currency" at the contract level means that this currency will be used in requests to the supplier. Consequently, for suppliers that support this feature, the suppliers responses will be in the chosen currency.
Note :
The currency which returned by the supplier will only affect the "OriginalPrice" (which is in suppliers currency) and will not affect the "FinalPrice" (which is defined by "Default Search Currency") .
Updated 3 months ago