This enrichment uses Open Exchange Rates to convert the values of all transactions to a specified base currency. To use it, you need an Open Exchange Rates account.
If you collect transactional data in multiple currencies, it might be worthwhile to use a service that is able to convert a customer’s local currency into the currency you plan on using for reporting.
Although there are several approaches to do this, with the currency conversion enrichment through Snowplow you can use the Open Exchange Rates api to convert currency values at the time the event is processed before it is written to your database.
This could help to lower discrepancies when reporting revenue amounts across multiple currencies.
As users shop on your site or app across the globe, you may want to reconcile revenue data shown using up to date exchange rates.
If your company normally reports in USD, but you have a localized site that users purchase in GBP, the transactions from the GBP site will store the order totals in GBP. Rather than wait to convert those figures during reporting time, you can use this enrichment to connect to the Open Exchange Rates API in order to write the event to your database with the current exchange rate for the users currency.