# Multicurrency Fairmarkit supports multicurrency. This means that you can work on events (e.g., as a buyer submitting an event or a supplier submitting a response) and you will see all currency values in your selected currency. ### How is currency handled on an event? With multicurrency, you can always see event values in your selected currency. The currency is set at the event level and must be consistent across an event to reduce potential confusion. ### Are benchmarks updated when I change the currency? This depends on your company settings. By default, your Benchmark value is not converted and you'll need to manually update it. If you've turned on the *Convert Benchmark when currency is updated* configuration, the Benchmark price is automatically recalculated. You'll be able to review and edit the updated value as needed. ### Can I bundle events in different currencies? No, you cannot bundle events with different currencies. You will need to update all events to the same currency. ### How do I set my default currency? You can select a currency when you're working on an event. Additionally, your organization's Admin can set preferred and default currencies at both the organization and user level. * Buyer's organization: An Admin can set the preferred and default organizational currencies for buyers. See [Edit company preferences.](/buyers/administration/company-settings/edit-company-preferences.md) * Buyer user: An Admin can set the preferred and default currencies for a user. See [Edit buyer preferences](/buyers/administration/buyer-users/edit-buyer-preferences.md). * Suppliers: Events will default to the requested currency for the event, but you can change it to your desired currency. Buyers will see the quotes value in their requested currency; it is converted based on the end of date exchange rate the day before the event was opened. Buyers can see the currency you used in your response next to the Supplier Quote Number. ### How are rates updated? Currency rates are updated using [openexchangerates.org](https://openexchangerates.org/). ### How often are rates updated? Currency rates are updated hourly and with the end of day currency rate each night. For consistency across an event, the exchange rate for the day before the event was opened is used on all conversions for an event. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.fairmarkit.com/glossary/glossary/multicurrency.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.