Each domain has a primary base currency at domain level, and optionally define a second management currency for reporting purposes. This currency is known as the statutory currency, and is normally the local currency of the country in which the organization must produce its declarations and financial reports.

The need for a statutory currency is most likely to arise in a country that is geographically close to a strong currency zone (for example, Mexico and Poland), where the country itself has another local currency. Companies operating in countries close to strong currency zones, such as the Euro and US dollar, might use the stronger currency as their base currency (functional currency). However, local auditors and tax controllers can mandate that companies submit their declarations and financial reports in the local currency of the country. In these cases, the local country currency becomes the organizations’ statutory currency.

The system stores all three currency amounts: Transaction, base and management. Transactions are always posted in transaction and base currency using the exchange rate in place at the time of the transaction.