I work at a finance department of an independent power producer. And just like any other business, we also do business with companies abroad and we do have bank accounts with a foreign currency. On a regular basis, say monthly or quarterly or semi-annually, we would want to adjust the increase and decrease of our foreign currency deposits based on the functional currency in the market. And we all know it’s for one reason—to check for foreign exchange gains and losses. It is critical for a company to translate foreign currencies to our functional currencies so that we are on track with our correct income or losses. And it would be lesser of a burden if we do it on a regular basis than doing it only at year-end.
Most of the time my officemate who is tasked to check the latest conversion would have a hard time doing her task. That is why our boss gave the task to me. I then started to look for an Online currency converter. And because of my resourcefulness, it didn’t take me long to discover a Currency converter web app called freecurrencyrates.com.
I liked this application so much because it makes things a lot easier for me. I don’t need to download and install it to my PC because it is a web application. I can just make my conversion directly in the browser. You can also immediately use a ‘classical’ conversion interface with only two currencies, (e.g. http://www.freecurrencyrates.com/convert-EUR-USD) so that you will be immediately directed to the EUR vs. USD conversion page. It also has the means to show me rates history pages in case I need to get the exchange rate of a specific prior period.
Lately, my boss has been pleased with the ease of our adjustments. And I guess she’s giving me this lifetime task because of how fast our adjustments have been made.