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I had the occasion to develop financial projections for a British based trading company.

The challenge was to develop the financial projections to handle over a dozen currencies.  The company’s business was to source commodities in a variety countries and import those commodities into Asian markets.

In negotiating the deals, it was a requirement to ensure the projections reflected current prices.

To accommodate this need, I built a currency updater that used the winHTTP method to download currency prices from Yahoo. To make life even easier for my client I had VBA auto update the currencies on opening the workbook.

With the  use of the Vlookup function and a user pick list control,  my client could easily select in what currency to make the projections. To update the model with the selected currency, the model had all the currency values multiplied by an exchange variable that represented the selected currency exchange rate.

As a final “nice touch” to get the top line amount to display with the actual currency format, I employed conditional formatting.

If you would like additional advice on how to implement this feature into your next financial model, please drop me a line via my Contact us page.