Like anyone else, people who buy from you want to know exactly what their purchase will cost them. And that means they must be presented with pricing in their own money
(the currency in which they earn, save, and spend), not some other currency that has to be converted into theirs at constantly fluctuating exchange rates. This Shopify blog article
indicates the top reasons customers abandon their e-commerce shopping cart before paying, and they all are encountered when dealing in currencies other than one’s own. Among the top reasons are:
- Presented with unexpected costs
- Found a better price elsewhere
- Overall price too expensive
- Price presented in a foreign currency
And so, it is crucial to present foreign customers with pricing in their chosen currency. At the same time, it is also crucial to report on foreign sales, expenses, and balances in a way that will keep the business profitable and not lose money on foreign exchange fluctuations.