Selling is a global business. Sometimes a customer will be from a different currency region to that of the business, e.g. a UK based retailer selling to a person living in mainland Europe. In these situations, a business will often wish to sell in multiple currencies.

In businesses where there are outgoings (costs) in foreign currencies, then settling in these currencies may be convenient so that you can pay local suppliers in their own currency.

For other lesser used currencies (e.g. more remote or lower volume currencies in which a business has no outgoings) it may be appropriate that the business is settled in their base currency. Operating several base currencies is also an option. So a business may decide to sell in twenty currencies and be settled in three. Be mindful of the channels and payment methods in which certain currencies will apply – not every currency will apply to each and every payment method.