Changing the Default Currency for a Project

Project Managers and other users can configure a project to use a currency other than the default currency. This allows you to display financial information on your project in the desired currency when calculating labor costs and revenue. 

Before you can use alternate currencies as described in this section, the system administrator must first enable and configure multiple currencies, as described in "Setting Up Exchange Rates."

Consider the following when changing a project's currency in Workfront:

  • You cannot change the currency of a project if there is any financial information in the project.
  • Rates are used for labor costs; revenue calculations and are used in the future for reporting purposes.
  • By default, all full license users have access to view currencies and exchange rates. System Administrators need to grant Edit Exchange Rates access to enable users to set specific rates on projects. 
  • Exchange rates in Workfront are not dynamic. The value is set by an administrator and must be updated when changes in exchange rates occur. 
  • When you create a report to reflect currency on a project, by default all reports are grouped by the project's default currency. If you create a report with multiple project's that have different exchange rates, then any groupings applied to the project reflect the default exchange rate at the system level. For more information, see "Creating Financial Data Reports with Unique Exchange Rates."

To configure the default currency for a project to be different from the system's default:

  1. Navigate to the project where you want to change the default currency.
  2. Click the Project Details tab, then select Finance.
  3. Click Edit Finance.
  4. In the Project Currency drop-down list, select the currency that you want to use as the default currency for the project.
  5. (Conditional) If you select a currency other than the default currency that is set for your Workfront system, specify the rate for the currency that you selected, as it relates to the currency that is set as the base currency in the system.
  6. Click Save.



This article last updated on 2019-03-28 20:16:19 UTC