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What is the Resource Currency selection in Primavera P6 used for?

In Resource window -> Details tab, there is an selection box called “Currency”.

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What does it do? I’ll explain it in this article.

By selecting the currency in that box, it determines in which Currency the Resource will be paid with. The setting locks the Price/Unit in that Currency regardless of change in the Exchange rates.

By default, this field displays the View Currency selected in User Preferences when the Resource was added.

For example, we hire the “Test” resource from India and we will pay him in Indian Rupee.

So I will select Indian Rupee.

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I will pay him 300 Rupee / hour. So I will switch to display in Rupee to enter data.

Go to Edit -> User Preferences -> Currency. Select Indian Rupee

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Go to Units & Prices and enter 300

From now on, even the Exchange rate change, Primavera will increase or decrease Price/Unit in USD so that it will always equal to 300 Rupee.

We switch back to USD to see the value.

Go to Edit -> User Preferences -> Currency. Select USD.

It show 7.38 USD. (1 USD = 40.67 Rupee)

Now Exchange rate will change. 1 USD = 50 Rupee.

Go to Admin -> Currencies. Change from 40.67 to 50. And click Close

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Now we can see the Price/Unit in USD decrease to 6 USD.

New Price/Unit = Old Price/Unit (7.38) x \frac{Old Exchange Rate (40.67)}{New Exchange Rate (50)} = 6 USD

And if we switch to Indian Rupee, we can see it is still 300 Rupee.

So, by selecting Resource Currency we can lock the amount of money we pay.

Even the Exchange rate change, the Price (in Resource currency) will not change.

Thanks for your time to read this article.

 

You can also find other post at my personal blog : https://doduykhuong.wordpress.com/

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