To Change the Foreign Exchange Rate
1.Click the Browse button in the Base Currency or Destination Currency field in the Options panel.
2.In the Select Currency screen, select the desired nation/currency.
3.The exchange rate (relative to the United States Dollar) is displayed below the table.
4.To modify the exchange rate, enter a new value in the exchange rate field.
5.To use ERI's default exchange rate for an individual currency, click the 
button next to the selected currency's exchange rate.
6.To use ERI's default exchange rate for all currencies, click 
.
7.Click OK to return to the main table.
In international COL comparisons, the Geographic Assessor model sets the USD to the local currency rate based on the rate forecasted on the first day of the current release. Currency fluctuations can impact COL differentials, so it is suggested to use today’s exchange rate to ensure the most accurate calculations. If both the Base Location and Destination Location are non-US locations, it is recommended to change the USD exchange rate twice (updating the USD to local currency rate for both the Base Location and Destination Location).
For example, if the Base Location is London, UK, and the Destination Location is Paris, France, follow the instructions above To Change the Foreign Exchange Rate twice, once for USD to British Pounds and once for USD to the EURO. This should be done even if COL values in the Two City Comparison table are displayed in the same currency for both Base Location and Destination Location (e.g., British Pounds in the example below). For the first six weeks of the year, for example, these rates will default to the rate that was current on January 1.
Note: Exchange rates that have been modified do not default back to ERI's default exchange rate (for the first day of the current release) when the Geographic Assessor is closed. Users must manually change the rates back to the default, if desired.
See Currency for more information.